Bitcoin is always struggling because of some greedy investors, and for sure it will never break 40k again if such activity will keep happening every time bitcoin were gradually gaining strength to increase. In fact there's no bad news when it comes to it after the sudden increased in the market. So what do you guys thinking why this is happening?.because seems this situation isn't a correction anymore. Lol
Bitcoin is whaling it is smoking hot for anyone that is mining it right now.here is the math
all time high diff = 25.04 price at this 2 week time May 13-May 29 was 33-50
current diff = 14.45 price at this 2 week time is 38-41
to understand this above
25.04/14.45 = 1.73
so for every coin earned back in may you now earn 1.73
so pick the low price for now of 38k x 1.73 = 65.74 k
what was the price during peak diff 33-50. so you are better off now even if you look at peak number of 50k during the May 13-May 29
Miners are whaling smoking hot.
go back more to April 14 coins were 63.39k
diff was 23.13
so today 23.13/14.45 = a factor of 1.60. plug in current price this jump of 39,288 and
39,288 x 1.60 = 62,887
so a miner right now is under 1 % off the same daily profit spot of April 14 when coins were 63.39k
62.887/63.39 = 99.2%
So it is not bear at all for miners..
for traders that purchased above 50k its is almost bear
for traders that purchased above 63k it is close to bear
But you can't leave out hodl they do not care at all.
so this is not a bear.
In order for it to be bear we need to get up and over 70k we diff to climb back to 25.05T
we then need the crash in price and diff need to be stable or growing
look at dec 2017 20k price and diff was 1.93
and in oct 2018 7k price and diff was 7.32 t
April 2021 64k price with diff of 25.04 t
Aug 2021 39k price diff of 14.44 t
is no where close to bear.
to quote Chris Rock "Lil Kim is richer than Oprah"
a reference to a Chris Rock stand up bit. IIRC