If you are still in the green, you can sell 5-10% only to decrease exposure, and put a buy-back order at a lower price (I suggest between 4 and 5k).

Bitcoin had fall so much that we cant predict the bottom anymore. People said it was 10k, 9k, 8k, but its going lower and lower. Some people will only look at percentages and say that this is not the biggest crash in bitcoin history, but it is, because much more people was affected than before, and we have Wall Street pulling some of the strings now.

It will eventually stop at mining costs. There is a bottom, and is not zero.

China ban bitcoin every year. Last year it banned bitcoin two times.

Its old FUD. Not gonna work.

I got one for the team and sold 5% of my stash, the fractions I bought back in october.

We will go up now.

February 2021 is very far. It will rise to 100k before it fall to that bottom.

The cost of mining is something bears dont take into account. Thats why we dont take them seriously. If they would be a bit reasonable about their predictions, we would listen more to them. The only bear which I think was realistic was sgbett, his prediction of a bottom is exact the same cost of mining, around $4100. We want more bears like that, that can call the bottom without doomsday predictions.

Of course, the difficult can be adjusted so that mining spend less energy, but this would attract more miners, which would increase the price again due to demand. So, even if it fall to $2500, it would be temporary, and I would consider that the "despair phase" of the elliot wave chart, the "return to the mean" being $4100.

I just sold a small fraction yesterday and put a buy order around that price. Maybe with I getting one for the team, the price will rise. I hope it does, at least starting from 16 february.

OP had just explained how bear markets work.

Any doubt we are in a bear market?

I'm smelling a rebound. Can you bears go more slow please?

First, they take your fiat. Then, they take your crypto.

They win in both directions.

And the price would go up, as cheaper energy costs would attract miners back.

Theres no way to go to zero, there will be always a mining cost which will reflect on prices.

So much blood, so much sacrifices... when Karhu will be appeased?

So, are you still thinking this is not a crash, but just a "correction"? It had fallen 70% already.

$100,000 by end of 2018, with a fall to $10,000 in 2019.

Get used to it.

R0ach walltext in 3 2 1...

Put your order around $4100-4500. This is the mining cost for bitcoin blocks.

If it go below there, my guess is there will be a complete shutdown of the network. Nobody will be able to trade as there will be no miner to validate the transactions. Of course, I'm just speculating. If anybody have any information about it, feel free to share.

Hodlers be like:

Its funny that the pump from november and december, and the consequent dump, all followed the elliotist pattern. Its the exact same chart. Even the "return to normal" phase is there.

The despair phase is $2500, and return to the mean is $4500, the price bitcoin was to have without tether pump (according to the tether theory) and without interference from Wall Street (according to futures theory). That is, good old october organic price.

Our faith in TEH KULT are being tested.

O custo de mineração está em torno de U$4100, o que dá em torno de R$13120.

Não vai abaixo disso.

I was searching for the mining cost in China. I read it was around $4,100, but it was a article from last year, dont know if its cheaper or expensive now. Coincidentally, this is the same price predicted by sgbett in the other thread.

4k seems fair as a absolute bottom. If it go lower maybe the miners will do something. Since China is banning mining (didnt check if this one is fake yet) and Russia are calling miners to work there, maybe we could take into consideration mining costs in Russia.