In the bear market BTC price not stable and Most of Trading Analysis are predict BTC will reach $3k according to the theory of market cycle. I have more doubt If BTC reaches $3000 Miners are alive
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- BTC Reach $3k I guess most of the mining farms will be stopped. Is it possible to maintain mining forms at the market situation (BTC at $3K) ?
- When Miners are reducing in BTC blockchain what will happen for the transaction?
- Can we expect BTC going down to $3k Is it possible according to TA and Do we need to trust TA?
All Discussion are warmly welcome
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Miners are not alive depending on the price, they know what they are doing when they buy or sell bitcoin with what they are doing from the costs. If a miner mines bitcoin for a cost of $5k than it means he will not sell it anything under the $5k, if the other one mines at a cost of $3k than he doesn't sell it under that price.
It all comes down to this fact, if a miner sells for $8k than it means there are a lot of bitcoins to be sold at $8k however when you go lower than the buyer/seller number falls of and price doesn't fall further, its all about the simple fact of demand/supply, if miners don't sell their coins than there won't be a fall in the price automatically.