Bitcoin Thread

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The Rand performance is getting really annoying now. Over R13.30 to the dollar. So the luno btc hasn't had a proper drop as yet. Now even when the usd btc price stabilizes there's a good chance that the rand might strengthen/correct and drop the luno btc price.
 
Thor said:
Depends on what, you talking BTC, BTC won't survive.
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BTC yes, and some select alts. I already have some nice passive-income Master-Nodes running. Won't mind adding more.

Your opinion - the great thing about someones opinion, is that they can be just as wrong as they want to be, and no-one can argue with them :)
 
balrog said:
BTC yes, and some select alts. I already have some nice passive-income Master-Nodes running. Won't mind adding more.

Your opinion - the great thing about someones opinion, is that they can be just as wrong as they want to be, and no-one can argue with them :)
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I want to setup a DADI Masternode, have you looked into them yet?
 
*SynergyX* said:
1st orders filled below 6500 //// godspeed!!!:wtf:

if this support at 6400 doesnt hold .... going down fast.

tighten your jocks
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Not sure the current price will hold.
There's an area of strong support just further down.
I got stopped out with the last drop, gonna see what the price does first.

zonea.png
 
this is still a slow bleed.... i suspect we have not seen the capitulation as yet.
 
SaiyanZ said:
I'm actually thinking down based off this fractal. Also the head and shoulders from my previous post is forming which looks pretty bearish. Will just watch for now.

ISvJjkcw
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Finally back at a PC after 5 days so can look at the charts properly. Remember this from last week where some people were saying a drop below $7k was very unlikely. :whistle:

Don't have the original analysis but close enough. The drop just came a day later:

zSSf3iLz


Now the question is whether this is close to the bottom or not. I think there is going to be big support at around $6300 due to the intersection of the descending wedge and the support from the previous lows. Though if that area falls it's impossible to really say where we will stop.

RxsAuUMR
 
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On the 5 minute view I think we might do something like this. The move up to $7000k and then drop is based off the previous fractal. Will be buying after the next drop to around $6300 and then getting out around $7000k. Also have been waiting for the Rand to strengthen a bit because no point in buying on Luno when the Rand movement/correction can potentially erode all returns.


r2YVKFwc
 
If $6300 breaks now it's game over. It hit the bottom area of the wedge as expected but the downwards momentum still seems very strong as it's so predictable. Might just break lower.

2KrdSnKE
 
Thor said:
Mining become unprofitable, boom btc is gone.
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Apparently the chinese can mine BTC for around $3k currently. So everyone else will switch off but the price can still drop.

Also won't the difficulty be adjusted downwards if there is less miners/hashpower? So the BTC price can keep dropping irrespective of miners. How was mining profitable when the price was $100? If the price drops we just end up having fewer miners like a year ago.
 
SaiyanZ said:
Apparently the chinese can mine BTC for around $3k currently. So everyone else will switch off but the price can still drop.

Also won't the difficulty be adjusted downwards if there is less miners/hashpower? So the BTC price can keep dropping irrespective of miners. How was mining profitable when the price was $100? If the price drops we just end up having fewer miners like a year ago.
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Chinese have all the hash power. They are accumulating, it's in their best interest to bleed other miners out.
 
SaiyanZ said:
Apparently the chinese can mine BTC for around $3k currently. So everyone else will switch off but the price can still drop.

Also won't the difficulty be adjusted downwards if there is less miners/hashpower? So the BTC price can keep dropping irrespective of miners. How was mining profitable when the price was $100? If the price drops we just end up having fewer miners like a year ago.
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Correct. Those that are the least profitable will be the ones leaving. Only takes one profitable miner to keep it going.
 
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