Will Bitmain Defend BTC at 5800 - 6000 USD?

[jamesashmore1964]

I say : Yes. They have a lot at stake and have the cash to do it!
BTC is the Future!

[1715463396]

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[harrybell]

Bitmain used to mining bitcoin  successfully and it’s one of the most profitable company. They can defend btc  but hop it will not happen.

[LFC_Bitcoin]

I say : Yes. They have a lot at stake and have the cash to do it!
BTC is the Future!

Depends how much deep shit they are in over BCH to be honest. Bitcoin is the future & by far better coin but what do they stand to lose if BCH bleeds out?

[Neurzway]

hope so

[lolland]

I think it will do this time, Bitcoins seems to have a strong support level just around and above 6000 dollars, people seems to sell Altcoins right now, and that will keep the Bitcoin price up.

[darkangel11]

I say : Yes. They have a lot at stake and have the cash to do it!
BTC is the Future!

So you believe that bitmain is accumulating. I believe that they're selling, slowly but surely dumping their mined coins on the market. They have a certain amount saved up just in case it all explodes, but most coins are being sold. They have people's wages to cover, bills to pay. They aren't going to go crazy on trying to stop some idiot from selling his stash because he thinks BTC is dying. If you want to defend a price level start buying.

[tatum506]

I say : Yes. They have a lot at stake and have the cash to do it!
BTC is the Future!
[/quoteYou can see that the current $ 6000 level is a very strong support level and bitcoin prices have fallen dramatically so far this tangled up again. Therefore, I believe that the bitcoin price will be able to maintain above $ 6,000. Although the market is bearish in the long run, but as an investor, I believe you can trust the market and continue to invest in bitcoin.

[chidrawarster]

The strong support of btc lies at 6k usd and also we do not know what are the other geopolitical events whoxh are going to hamper the present momentum. I suggest everybody that as long as btc drops  keep buying g at different prices to keep the averaging on  and also minimise losses. Many across the globe does this and no worry of price fluctuations.

[abojamal]

The 6000 level seems to be a bit strong
I hope it will be prove and will be a starting point
the Great support is by buy
And not to sell on these prices

[Pursuer]

no they won't.
but the total market sentiment is buy if price goes anywhere below $6k or near it and you can see it on the charts today. there is a strong buy support which is buying it up although the whales have been dumping a lot of bitcoin today trying to push it lower and also there is a panic sell going on but it still is holding strong.

here is why a miner like Bitmain won't do shit:
they have a large hashrate and they are not a small pool to need to sell right away to pay their costs and employees. they have enough money to cover it for more than a year possibly. so if price goes down it will be profitable for them because small miners will go away while they will still remain. so now (assuming price has actually falling a lot not just 5%) the total hashrate can go down while they gain a higher percentage and can find more blocks. result is earning more bitcoin. even if they find 1 more block per day that is going to be between 12.5 to 14 BTC profit.

[Fornam]

I think it’s not possible for Bitmain to defend BTC. Because BTCs popularity increasing gradually and it is also stable in this market.

[vuli1]

but what is going on actualy, why is all going down? makes no sense.

[MetaPhorse007]

Even with a dip, the people still highly believes in this coin and believes that it is the future of the market. So a huge yes.

[Killrbit]

I say : Yes. They have a lot at stake and have the cash to do it!
BTC is the Future!

Well not sure to be honest. They have converted a lot of their btc into bch and supposedly  now hold over 1 million BCH.

Yet BCH has plenty of other risks associated with it and is unlikely to survive if BTC falls to much.

yet Bitmain also have their IPO coming up and would need a relatively high price for BTC and BCH in order to sell their IPO successfully, so perhaps they will defend the price to some extent.

however take note that bitmain has performed very poorly in Q2 and Q3 this year. They have burned through a lot of their cash while their last few miners are terribly inefficient and have by and large failed, with one of them being less efficient then a GTX 1080 TI, so not sure how much exactly they have left in the tank to defend the price.

[tungaqhd]

I say : Yes. They have a lot at stake and have the cash to do it!
BTC is the Future!

I hope they will actually do something. Because if the bitcoin price drop under 5000 usd, there will be no profit for miners, then they stop mining bitcoin lead to the collapsing of the network.

[pehuk]

The people are still hoping and believes that BTC will be able to recover from the dip. And that is why the people in the market believes that it will defend BTC

[Foress]

There is no guarantee what will happen. The bitcoin market is too volatile. Any prediction might end up being wrong. But bitmain plays and important role in the bitcoin mining and they surely have a significant amount of stakes on hold. The number of bitcoin reward is decreasing while the difficulty is increasing. With only 4 million bitcoin left to mine, I guess the price will soon go up.

[BrewMaster]

so we went from Bitmain is evil and Jihan Wu is the devil to Bitmain should come save the price for us because we are bag holding. is that it?

[jrrsparkles]

I say : Yes. They have a lot at stake and have the cash to do it!
BTC is the Future!

The price of bitcoin is strongly holding at this level even after many crashes so it makes the people think that it won't fall again so people will consider this as the bottom level and try to invest now.On the other side ETF speculation also has influencing the bitcoin prices so it may changes the price from $6000 level.SO nothing for sure just hope that price will recover.

[MirkoIta]

so we went from Bitmain is evil and Jihan Wu is the devil to Bitmain should come save the price for us because we are bag holding. is that it?

Exactly that. Now Bitmain has too much at stake to let BTC price dump too low while earlier Jihan Wu just wanted to destroy bitcoin and become the world's evil emperor or some shit like that.