Bitcoin to the moon?

[Lexi Price]

Q1 - so have we found the bottom yet or is that still up in the air?

Q2 - might be a dumb question but please keep in mind I'm not a trader* so I don't quite understand most of this, but is there anything bitcoin users or "the community" per se can do to prevent or insulate the market from "pump and dumps"? It makes me think the market will always be at the mercy of traders so this can go on indefinitely keeping things volatile.

Q3 - is there somewhere I can go to learn how to understand all these charts like at bitcointicker.co/bitcoin tracker? I have this one bookmarked and check it daily just to see what the price is but the chart itself I have no clue.

Thanks!

[kwukduck]

A1 - Who knows, the economy right now is very speculative.

A2 - Any moves in the market from whales can create massive swings either up or down. The only thing that can prevent this is if the ratio speculators/users changes in the favor of actual users in great numbers. The moves by the whales will be absorbed by a market much more easily if it's a big one.

A3 - There are many guides online on how to read these charts and indicators. It's important to realize these are either purely mechanical, statistical or psychological. Whatever indicators you use, it is still speculation and there is a risk it will go in the other way you expected it to go based on your analysis. (Don't speculate with money you can't afford to lose)

If you just like bitcoin for it's function as a currency, use it as such, get bitcoin when you plan to use it relatively quickly, and don't hold onto it as speculative asset.

[tss]

haha no.  regardless of how much good news we get.  the cost to mine btc regulates the price they sell for.  at the moment hardware manufacturers are at an advantage and thus have a say in what btc price is.  and believe me they are making a killing.  if i can profit on mining currently then they can profit selling at even half of todays price.

Yeah, sure. That's the reason why the difficulty is going down.

mining equipment manufacturers are not turning anything off.  actually their pool hashrates are growing.  the retail buyers are the ones shutting down as they barely make anything to make it worth their time and efforts.

[Pecunia non olet]

Q1 - so have we found the bottom yet or is that still up in the air?

Q2 - might be a dumb question but please keep in mind I'm not a trader* so I don't quite understand most of this, but is there anything bitcoin users or "the community" per se can do to prevent or insulate the market from "pump and dumps"? It makes me think the market will always be at the mercy of traders so this can go on indefinitely keeping things volatile.

Q3 - is there somewhere I can go to learn how to understand all these charts like at bitcointicker.co/bitcoin tracker? I have this one bookmarked and check it daily just to see what the price is but the chart itself I have no clue.

Thanks!

A1: bottom is calculated with costs of the network vs new money coming in. You calculate price of btc times bitcoins found by mining to get the cost. Once these costs are smaller or equal to the new money coming in (substracted the money going out) we will have found a bottom. I think bottom will be double digits based on my calculations.

A2: nothing can be done about Pump and dumps other than you don't buy into it and sell into it instead. (counterintuitive trading, makes money too)
Volatility is only in parts caused by the traders but in large parts also by the miners. So Bitcoin is inherently volatile due to the high inflationrate.