Make your vote, Bitcoin will hit 18K now?

[Martin Everson]

A day to go and it seems majority of people in poll maybe roughly right .


Anyone know what the current breakeven price is for BTC miners? I am thinking of those with higher cost of electricity and overheads.

 

[Golden Fleece]

A day to go and it seems majority of people in poll maybe roughly right .


Anyone know what the current breakeven price is for BTC miners? I am thinking of those with higher cost of electricity and overheads.

It is ominous that the price of Bitcoin is declining even on days when the stock markets are not open.

Bitcoin is now down over 72%. Meanwhile, gold is still doings its job as an asset that holds its value during tough financial times. It is still up one percent this year, while most other assets have lost value. So, much for Bitcoin acting as digital gold.

 

[JohnnyDoe]

Anyone know what the current breakeven price is for BTC miners? I am thinking of those with higher cost of electricity and overheads.

there are so many variables, like hashrate, operating costs including hardware, electricity etc. The rock bottom should be around $3k, but there are plenty of newcomers for whom anything below $30k results in a loss. These guys will close operations, with obvious consequences for the price, like it happens with any commodity.

 

[369]

$13k and automatic bounce to 18-20k and after that we will create a channel high probably between 15k and 19k

 

[boomy]

It went to 18,4K this morning but is up now 19,8K

 

[Martin Everson]

I saw it bottom out around $18,085 on coinmarketcap today .

 

[clemens]

yeah now it is back 20K+

 

[369]

either it will go to $12-13k this week or end of august

 

[Golden Fleece]

Bitcoin will bottom whenever the stock markets bottom, the timing of which is very unclear at this time because our masters at the Fed must decide whether to kill inflation or have a recession. Those are the two options. There is probably less than a one percent chance of a soft landing.

 

[aage]

either it will go to $12-13k this week or end of august

Why do you believe this week or August? what is the sense behind it?

 

[Martin Everson]

It was not the only company to do so. I read earlier today that Celsius Network also halted withdrawals because of “extreme market conditions.”

Seems Celsius still blocking peoples funds. But I guess its users would have understood this all had they read the Term of Use.

https://blog.celsius.network/a-memo-to-the-celsius-community-59532a06ecc6

Anyway the question now with BTC price hovering around 20k is whether it has hit the bottom or will fall further.

 

[RealDude]

Compare the graphs of BTC and ETH from yesterday. Is crypto trading purely computer driven?

 

[CoinMaster]

it is slowly going up!!

 

[Martin Everson]

Compare the graphs of BTC and ETH from yesterday. Is crypto trading purely computer driven?

View attachment 3862

That's just correlation. They nearly all go up an down at same time anyway. As of right now bitcoin is up so nearly all the top 100 cryptos are up on coinmarketcap. When it goes down they will too..lol.

 

[troubled soul]

Forget about Up and down. There is hugh arbitrage opportunity between ETF,ETP,Future, option and spot. Try luck there . You can make Hugh money If you know the "Things"

 

[ImKing]

I don't know the things! What's the prediction now, anything to wait for before buy BTC again?

 

[backpacker]

I don't know the things! What's the prediction now, anything to wait for before buy BTC again?

Yes, there is a lot to wait for!
Do you really think that it is a good idea to invest into anything which is highly affected by rising interest rates. A vicious cycle of rate hikes has just started and is not limited to the US. In this environment it is financial suicide to invest in crypto.

 

[JohnnyDoe]

Yes, there is a lot to wait for!
Do you really think that it is a good idea to invest into anything which is highly affected by rising interest rates. A vicious cycle of rate hikes has just started and is not limited to the US. In this environment it is financial suicide to invest in crypto.

Unless it is not. Don’t try to pick the bottom.

 

[Golden Fleece]

Unless it is not. Don’t try to pick the bottom.

There is no need to pick a bottom for Bitcoin, mostly because you can't. Its bottom will depend on macroeconomic fundamentals that have not yet played out, plus it has a very limited price action history. As backpacker already stated, just wait for the vicious cycle of rate hikes to bludgeon the stock markets, wait for the stock markets to bottom, and then buy Bitcoin on the price upswing. It is now correlated with stocks.

When people are so disgusted by the mere thought of buying stocks (or crypto), then that is the time to buy. We are not even close to such a market sentiment capitulation. People are still talking about "buying the dip" or "buying the bottom." There are still plenty of bull traps to navigate.

 

[369]

Compare the graphs of BTC and ETH from yesterday. Is crypto trading purely computer driven?

View attachment 3862

of course they are algo driven