Will Bitmain Defend BTC at 5800 - 6000 USD?

[Eto_mete]

Bitmain is an operator of one of the largest Bitcoin mining pools. It is one of the largest and most successful producer of ASIC as well. I think in this market of pump and dump, Bitmain is going to defend Bitcoin.

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[MirkoIta]

Bitmain is an operator of one of the largest Bitcoin mining pools. It is one of the largest and most successful producer of ASIC as well. I think in this market of pump and dump, Bitmain is going to defend Bitcoin.

And why should they defend it? To save the people that screams "Boycott Bitmain!!!" the whole time on every social media?

[tokenjob]

Bitmain is privately owned company that’s use to mining crypto. So they dominate over crypto. It’s a most profitable company. But wish they can’t defend BTC.

[alexgreen2018]

No one needs to defend bitcoin. It will recover on its own and also bitmain owns just 4-5 % of total hash power. They wont try to do this.

[johnethearn]

Bitmain is a successful mining Company mining BTC for long. I feel positive for them. But the market doesn't rely on only the mining. There are hypes, peoples influences and other factors that influence the BTC market also.

[#dhabitamartha]

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

I strongly agree that bitcoin is a future money and it must be developed again because this is needed by many people.

[sandaljepit44]

I think bitman will continue to allow bitcoin prices to fall to around $ 5300 - $5500 to create a panic trad. after that it will enter a phase where bitcoin will be pumped to increase again

[CryptoGosu]

Bitmain has already sold a lot of their Bitcoin supplies. They are buying Bitcoin Cash. Bitcoin's reserves near Bitman are no longer as large as they used to be.

[Alexbenua97]

At such rates, bitcoin can drop to 3000-4000 $. Ether already $ 250 is just a tin! I hope the climb will be as fast as the fall.

[flying_bit]

we really don't know coz they announce before that they fully support bitcoin cash and if you look at the leaked Bitmain Balance Sheet you will see that their BTC is decreasing while bch accumulation is increasing. Anyways, there's a lot of speculation about bitmain but let's not forget that every company aims for big profit so anything goes for them. If bitcoin remain top crypto (which I believe will do) then there's no reason for bitmain not support bitcoin at all specially now that they are planning to go public and need a lot of investor.

[Mulbuggie]

Not only Bitmain but I think the sharks and whales of the market are also going to back bitcoin up from falling below 6,000$ mark. Just look the current market graph. Bitcoin has been hovering around 6,100$- 6,500$ mark for 3 days straight. Which means the support on 6,000$ is too strong for it to go below.

[peter0425]

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

Did you mean that Bitmain should pump the coins when it reaches at $5800-$6000 levels in order for them to as least break even?

I'm not sure about that, although they have a lot of money to begin with, it doesn't makes sense for them. If there's a coin that they are going to pump, I'm sure that it should be their beloved Bitcoin Cash. They don't have a lot of stakes, even if bitcoin goes below $6K, they can still profit by just selling bitcoin mining gear.

[prikitiw]

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

I hope they will really give a solution. Because if the price of bitcoin falls below 5,000 usd, there will be no profit for miners, it will be bad for the network because the role of miners is very important to process every bitcoin transaction.

[tonyja2017]

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

Bitman has no obligation to protect Bitcoin's prices, they are only obliged to upgrade and enhance the value. Protecting BTC will depend on true investors and I think the whales always do that. They often use Bitcoin to manipulate markets and money laundering.

[coinwizard_]

If mining becomes unprofitable then they will stop using asic machines and mine something else. It is in their best interests to ensure that bitcoin stays above $5000 or their company might collapse

[Nexigen]

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

Perhaps they also quietly take part in the dump to earn some money, as it was with the BCC. They are not interested in the general fall of cryptomarket, so they will support bitcoin, but what is the price beneficial to them?

[gentlemand]

Have you not read the stuff about their IPO? Bitmain threw away most of their BTC propping up Bcash. That failed.

Anyone singlehandedly attempting to prop up anything is a total idiot. All that'll happen is that every other player will simply use it as an opportunity to rape the propper until they're drained completely and then the market will carry on on its natural trajectory.

Trying to keep Bitcoin above a price it wants to go is like trying to hold back an incoming tide. You might be able to lash up some barriers for a bit. Then you're swamped and dead.

[learningcrypto5421]

bitcoin price will increase in future because it is more popular and demandable in crypto markt. it difficult to hard predicted but if you analysis past year price list you should mention that easily it price upward more than $8000. it future are good.

[dreammoney710]

bitcoin are more profitable. it is made by blockchain technology that's why people are trust it. and they increase their investment. in future it will get price more than $8000. it will be make your proft.

[coinpedia240]

bitcoin are now more popular and potential. it price will increase and it will upward more $8000. if you analysis past year price list you can easily understand that. it is more promising for ensure profit.