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
- 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
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.