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Author Topic: Dangerous price area  (Read 1716 times)
KMattox
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June 17, 2018, 01:38:26 AM
 #1

hey guys, Bitcoin is moving really dangerously to 6000/62000 price level.
If we break this level most of mining farms have to stop mining or continue to produce at loss...
this would be a really nefarious scenario!!!
who thinks Bitcoin will break psychological 6k level? what could happen then? any opinion or analysis???
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June 17, 2018, 02:16:27 AM
 #2

Yes BTC price now in the critical level support in technical analysis but from fundamental analysis price of BTC still strong and possible to going up multiple times again. I think Bitcoin miner now does not sell their BTC and hold it until the price going up. Other good news like Coinbase and Bittrex also make good fundamental for crypto that will increasing the demand.
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June 17, 2018, 02:25:13 AM
 #3

hey guys, Bitcoin is moving really dangerously to 6000/62000 price level.
If we break this level most of mining farms have to stop mining or continue to produce at loss...
this would be a really nefarious scenario!!!
who thinks Bitcoin will break psychological 6k level? what could happen then? any opinion or analysis???

I think nothing needs to be stopped, mine now does not mean lost production, but the profit is delayed. I'm sure the bitcoin value will not be less than now, bitcoin will soon increase in the next few months.
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June 17, 2018, 05:02:58 AM
 #4

Well sad to say it will touch down again the 5k value but it doesn't mean it will continue to decrease more , which is if that times happen IMO bitcoin need to find new another bottom line, but not on dangerous area such 4k-3k 'cause that's too much which is very wose dip ever since bitcoin touch the ATH year 2017. So perhaps around 5k is enough for the next bottom if bitcoin break psychological 6k level in my opinion.  




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June 17, 2018, 05:58:51 AM
 #5

hey guys, Bitcoin is moving really dangerously to 6000/62000 price level.
If we break this level most of mining farms have to stop mining or continue to produce at loss...
this would be a really nefarious scenario!!!
who thinks Bitcoin will break psychological 6k level? what could happen then? any opinion or analysis???

There's no such thing as critical price for bitcoin $6000 is still so much well i guess i can understand but only if you put your money while in 2017 Nov-Dec cause it still was high but it's still not critical for those who started at that price range but please don't spread it around here or anywhere it's as if you are saying it will die and your probably scaring other potential investors.
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June 17, 2018, 07:12:30 AM
Last edit: June 17, 2018, 07:39:40 AM by Tytanowy Janusz
Merited by jacee (1)
 #6

hey guys, Bitcoin is moving really dangerously to 6000/62000 price level.
If we break this level most of mining farms have to stop mining or continue to produce at loss...
this would be a really nefarious scenario!!!
who thinks Bitcoin will break psychological 6k level? what could happen then? any opinion or analysis???

I think nothing needs to be stopped, mine now does not mean lost production, but the profit is delayed. I'm sure the bitcoin value will not be less than now, bitcoin will soon increase in the next few months.

There is no economical explenation of mining bitcoin when electricy cost is bigger than bitcoin price. Saying that profit is delayed does not justifies mining bitcoin worth 5k paying for electricity 7k. Its better to stop mining and start buying. Without spending 1mil/month to mine 142 bitcoins you will spend 1 mil to buy 200 bitcoins.

hey guys, Bitcoin is moving really dangerously to 6000/62000 price level.
If we break this level most of mining farms have to stop mining or continue to produce at loss...
this would be a really nefarious scenario!!!
who thinks Bitcoin will break psychological 6k level? what could happen then? any opinion or analysis???


https://bitcointalk.org/index.php?topic=4469336.msg40087454#msg40087454
here i have explained this. Not most of mining farms will stop mining. Only few with the worst hardware, worst electricity cost and the worst management (this 6k mining cost is just average. Some are mining for 5k, some for 6k and some for 6,5k those for 6,5 are already suffering, those for 5k are doing well at current price). That will lower dificulty for others and mining become profitable at lower bitcoin price.

https://blockchain.info/pl/charts/difficulty?timespan=all
Take a look at current dificulty. It is more pumped than bitcoin price ever was. Parabola in every time period. I even think that in longterm vision it would be better for bitcoin to shake those inefficient mining farms as long as it wont mess too much with bitcoin decetralization.


as you can see its not as decetralized as everyone think.





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June 17, 2018, 07:47:05 AM
 #7

As of now the price of the bitcoin is $6500 and yesterday the price are down near at $6000 but it's not down very near because many people who bought bitcoin so they increase a little. The critical level for me is when the price of the bitcoin down at hundreds dollars but if the price are still thousands dollars they have big chance the price recover or become ten thousands dollars more.


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June 17, 2018, 10:32:53 AM
 #8

no price is ever going to be a "dangerous area" for bitcoin. not $1 trillion nor $0.01. in other words even if bitcoin price drops to 1 cent it still will go on as I will be the one who picks up mining it with my PC as the difficulty drops.

that is how bitcoin works. if it is more profitable to mine then there will be more miners then difficulty will rise and make it less profitable (or better say reasonably profitable).
if price drops and it becomes less profitable to mine, some miners will start leaving (slowly) and the difficulty will drop making it easier to mine and making it more profitable to mine bitcoin (or better say reasonable profitable again). in the end the balance will be disturbed for a little while before things go back to normal again.

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June 17, 2018, 10:42:25 AM
 #9

hey guys, Bitcoin is moving really dangerously to 6000/62000 price level.
If we break this level most of mining farms have to stop mining or continue to produce at loss...
this would be a really nefarious scenario!!!
who thinks Bitcoin will break psychological 6k level? what could happen then? any opinion or analysis???

There has been similar scenarios in the past where bitcoin price dropped more severly and I think even if it looks dangerous, not all miners will stop mining. Bitcoin has recently reached it's ath this year and I think that this downfall can only be a positive impact for long term holders. Even if half of the miners do quit, people will find way to make blockchain and bitcoin more relevant to humans needs.
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June 17, 2018, 11:18:21 AM
 #10

As of now the price of the bitcoin is $6500 and yesterday the price are down near at $6000 but it's not down very near because many people who bought bitcoin so they increase a little. The critical level for me is when the price of the bitcoin down at hundreds dollars but if the price are still thousands dollars they have big chance the price recover or become ten thousands dollars more.

If bitcoin prices go to hundreds then it will lose people interest and later recover may become difficult because new investors may not show interest to invest in bitcoins because 20K to hundreds is a too dangerous thing to happen. I think if this negative sentiment continue then it may reach around 4K level and from their, it may start moving up but not sure what is the exact market bottom.
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June 17, 2018, 11:38:19 AM
 #11

hey guys, Bitcoin is moving really dangerously to 6000/62000 price level.
If we break this level most of mining farms have to stop mining or continue to produce at loss...
this would be a really nefarious scenario!!!
who thinks Bitcoin will break psychological 6k level? what could happen then? any opinion or analysis???


Not really.

Some of the miners at the margins will give up. Then the hashrate will drop and it will be profitable for the existing miners as it will be easier to find coins.

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June 17, 2018, 12:07:50 PM
 #12

hey guys, Bitcoin is moving really dangerously to 6000/62000 price level.
If we break this level most of mining farms have to stop mining or continue to produce at loss...
this would be a really nefarious scenario!!!
who thinks Bitcoin will break psychological 6k level? what could happen then? any opinion or analysis???


If that happens then surely bitcoin will drop even lower bottom of the 4000 USD value. And thats the bitter truth about it. We can not help it as long as more and more money is poured into the current market cap. The bad news is, we have more sell orders than the buy orders and thus it is making it obnoxious to control. BTC will never survive the current scenario and it is frightening to say that BTC may not be able to survive the current sell demand and it will drop further. The only way is to get more investors but that is also huge amount required to deliver the up surges.


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June 17, 2018, 12:16:48 PM
 #13

I don't think 6k is a big price level for a lot of miners, I'm sure the big farms are mining at a much cheaper cost. Of course if the price is cheaper than the cost of mining a lot of miners will stop mining. That is those that have already paid for their machinery. If they're factoring hardware costs in to costs of mining then they can still mine and it be logical. If their only input is electricity then there's no reason to mine at a loss.

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June 17, 2018, 12:33:01 PM
 #14

I don't think that the mining industry will stop because of the drop of the bitcoin price. I am not sure that bitcoin price will break the level of $6000 but it could be possible as we know that in cryptocurrency, everything could happen. I am sure that the price will increase more than $6000 and will be back to the $7000 or even higher. the miner will continue mining because bitcoin depends on the mining process and if it stops then bitcoin will stop too. let see what will happen in the rest of this year.


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June 17, 2018, 12:56:13 PM
 #15

you better take advantage of moments like this to buy and open buy orders because I see bitcoin is not always the price is always cheap like this.

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June 17, 2018, 01:10:56 PM
 #16

Bitcoin not only brings potential, but also risks. The price of this virtual currency does show a very promising prospect, but there is a minus value that makes the use of Bitcoin still need to watch out for. Either as an online payment tool or investment asset,
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June 17, 2018, 01:35:00 PM
 #17

Miners have a way of hedging their payouts and bitcoins coming even to a price of $1000 don't bothers them. Their objectives is to mined as much as the remaining supply of bitcoins available. For the psychological price that bitcoin is trading is just testing waters to bounce back to higher price. I am predicting this is the lowest price bitcoin can trade in this month.

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June 17, 2018, 01:55:57 PM
 #18

Don't worry about the miners. The mining pools will get their profits in any case. Currently Bitcoin is on the low local levels indeed, and if the price will go down to $6000, many people will buy BTC. It is not a dangerous area, it is a support area. Probably now the good time to buy or re-buy some coins.

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June 17, 2018, 02:17:04 PM
 #19

hey guys, Bitcoin is moving really dangerously to 6000/62000 price level.
If we break this level most of mining farms have to stop mining or continue to produce at loss...
this would be a really nefarious scenario!!!
who thinks Bitcoin will break psychological 6k level? what could happen then? any opinion or analysis???


I not imagined thats those miners would stop there mining job,if the price value of bitcoins would break $6K level,because in my own thought miners dont care if the btc price going down,because the only things come up into there mind is to earn,therefore this situation now that what could happen if  the value of bitcoin is going down to 6K i thinks mostly people going in FUD situation and maybe all well sell there crypto coins in lossing, in order to secure even a small amount of there capital.

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June 17, 2018, 02:24:47 PM
 #20

hey guys, Bitcoin is moving really dangerously to 6000/62000 price level.
If we break this level most of mining farms have to stop mining or continue to produce at loss...
this would be a really nefarious scenario!!!
who thinks Bitcoin will break psychological 6k level? what could happen then? any opinion or analysis???


We've already seen the price touch the 6k point last february and i don't think it's a reason for concern for long term traders. Honestly, I wouldn't even feel bad if it goes below 5k. Miners have been mining btc even when the price was way below that and i think people are just psyched due to the decline from 20k price range. One thing is to look at it a bit farther. You'll see that it isn't that bad if you remove the unnatural movement last 4th quarter of 2017.

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