please delete

[d3nz]

That's a great analysis but still not the answer i think. We really don't know on why the market is going down but still a great opportunity to take advantage of this crisis because we can buy and wait until the value goes sky high.

And buying now is really good for a long term holding because we know that the price is increasingly every year and the only reason on why it goes down or dump really hard because of the FOMO and it really affects all and even the altcoin value.

[audaciousbeing]

Miners are the biggest whales, because they create bitcoin from electrical power. They need to distribute it, hence why the price tanks between the crash and the halving.

I don't think miners are biggest whales in Bitcoin because current scenario more than 85 percentage of Bitcoin is circulation so traders are the main reason for pump and dump. Normally most of the investors are concentrate trading platform so once they sell continuously it will drop gradually or else everyone concentrate buying the Bitcoin it will going to moon.

Based on the analysis of 85% in distribution, it just mean the happenings is dependent on activities of the market but really the problem is the people who follow the trend of activities and used that to make their own investment decisions. I have also seen panics happen to the detriment of everybody. Blaming the miners is just way over the line as an excuse for someone else to take the blame when in the real sense they are just some group of people following the trend of the market and wanting to make decent returns from it.

[BitHodler]

And buying now is really good for a long term holding because we know that the price is increasingly every year and the only reason on why it goes down or dump really hard because of the FOMO and it really affects all and even the altcoin value.

If people like the aspect of this market where the prices pump for a whole year, they also should accept that prices can't go up endlessly and for that reason will correct in a similar fashion.

We went through a year long bull market in 2017 and went through a year long bear market in 2018. I think that we are currently replicating the same cycle, but in a quicker fashion this time, which should make moon boys happy.

Is it a great time to buy today as a long term hold? It might be, but you shouldn't expect the price to go up from here.... we could still see some form of a correction and lower low before we go up.

[el kaka22]

There are a lot bigger whales compared to miners but they are really high up there. You know why miners are really whales? Because, not only that they can change the price but also they could also change the difficulty and hash rate which really is a difficult thing to achieve by all the other people. Hence that is why they are huge whales, not because they have a ton of bitcoin, which they do have but they are also in power of controlling hash rate and difficulty and transactions.

I really dislike them but I can't deny their powers, they are really strong. For example if there is a whale who has 100k bitcoins he could sell them but that means while he is trying to manipulate they are losing their power whereas miners could buy and sell and they will still have their mining power.

[Ryker1]

Well, reducing the hash rate will we can determine that the price of Bitcoin was dragging down and when it is pumping up in the market it also increases the hash rate. But those big whales have a power in those every changing the price. The unpredictable fluctuation was depended on those who are playing in the market, they know much better how to play and get profited by controlling the demand and the supply. I hope they will get tired soon in doing that when the price goes up.

[Hamphser]

That's a great analysis but still not the answer i think. We really don't know on why the market is going down but still a great opportunity to take advantage of this crisis because we can buy and wait until the value goes sky high.

And buying now is really good for a long term holding because we know that the price is increasingly every year and the only reason on why it goes down or dump really hard because of the FOMO and it really affects all and even the altcoin value.

OP just made up a story based on his own perspective but that's not really the real answer. A lot of factors that we might have to consider here to know exactly the price of bitcoin and it is not because of the hash rate that OP has been talking about. Prices are easily manipulated by the whales and most people were following every trend of it.

[Kasabus]

This is just like the same, why is BTC price is at $10k? Does it keep asking why it happens? Why there is a drop?

Because this is all about market fluctuations and we are facing it all the time, thus never wonder why we have such changes every sec or every minute.
For we can't hold the price any longer, we can't still at the top all the time, either we like it or not the market will turning up and down depending on the market flows.

[Bossian]

The price is this way just because of technical analysis, plain and simple. It's been the case since early 2018, the price has always been predicted by technical analysis. Price manipulation can still happen but it's useless to talk about it. Unless we break a strong resistance or go below a strong support, the price will just be decided by traders, and now the trend of traders is clearly bearish.

[Bossian]

This is just like the same, why is BTC price is at $10k? Does it keep asking why it happens? Why there is a drop?

Because this is all about market fluctuations and we are facing it all the time, thus never wonder why we have such changes every sec or every minute.
For we can't hold the price any longer, we can't still at the top all the time, either we like it or not the market will turning up and down depending on the market flows.

A price of 10k can easily be explained by short term trends.

If we go to 10k again it won't matter much because we will still be below the strong resistance around 12.4k. We can certainly go back to 10k and if we do I would suggest to sell and wait to see what happens after that.

[Darooghe]

In my opinion hash power follows price, not the other way around. If it were the other way around, the Bitmain could for example just create their own coin and get rich by putting all mining power behind it. but what would happen instead people would not assign much value to that coin resulting in Bitmain paying more for electricity than what their mined coins are worth. Instead of mining at a loss the miners would drop the hashrate until the equilibrium of coin price and electricity cost is reached. So hashrate naturally follows price.

[Capt00]

It does really work that way?
If price depends on the hashrate then there should be a lot of people knows where the price is going and a lot of people do not lost their investments due to the unpredictable price movement. I really do hope its just that easy to predict the btc price.

If it does then a lot people will be able to predict the price accurately, so it means that bitcoin price isn't unpredictable if its because of the hashrate. Bitcoin price is due to many factors, may it include the hash rate in mining but it is not the basis of the price, I think that it was just a coincidence. I know a lot of people are trying to determine what really is the reason of the price movements but always remember that bitcoin isn't as easy as what most people think and there are other factors that can affect the price.