Bitcoin is proper Stablecoin today so far! Silence before the storm? Which one next, $5000 or $7000?
Bitcoin flatlined
6 years ago by jomeszaros (66)
$37.00
- Past Payouts $37.00
- - Author $28.02
- - Curators $8.97
144 votes
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I question the ability for BTC to drop below the average price to mine it. If it does drop below that price for a sustained period, I question it's ability to survive.
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Imho It will decimate the ineffective miners, for sure, decreasing decentralization too. So total mining hashrate will get smaller, followed by the difficulty decrease as a result, ultimately increasing mining rewards for the miners who survived the squeeze. Ecosystem balanced again.
Satoshi Nakamoto:
"It's the same situation as gold and gold mining. The marginal cost of gold mining tends to stay near the price of gold. Gold mining is a waste, but that waste is far less than the utility of having gold available as a medium of exchange.
I think the case will be the same for Bitcoin. The utility of the exchanges made possible by Bitcoin will far exceed the cost of electricity used. Therefore, not having Bitcoin would be the net waste."
https://bitcointalk.org/index.php?topic=721.msg8114#msg8114
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This is a walk in the park compared to the 2014 bear market. I'm ready to hit 8 figures on the next rally ;)
Might take a year though
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I was there too, was not pleasant back then. Now i just enjoy the show, i am in for the long term, it taught me patience for sure. I still have some coins from 2013, unfortunately private keys with MTGOX...
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Will be Stable for a couple of more weeks then 7000-8000
Posted using Partiko Android
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Very weird indeed, it is more stable than S&P500. I've never seen this before.
Volatility over last 10 days...
Bitcoin: 8%
S&P 500: 25%
This is the biggest negative differential (-17%) on record.
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Both in the same day
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That can be as well :)
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BTC may reach $6700 this week.
See my analysis
https://steemit.com/cryptocurrency/@shahhasan29/bitcoin-btc-price-analysis-for-the-week-usd6700-reachable
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Looks fabulous and neat :)
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$7000
Bitcoin has spoken!
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