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Make your vote, Bitcoin will hit 18K now?
- Thread starter SoNewToAllShit
- Start date
It is ominous that the price of Bitcoin is declining even on days when the stock markets are not open.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.
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.
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.
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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.
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.
Compare the graphs of BTC and ETH from yesterday. Is crypto trading purely computer driven?
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.
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"
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.
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.
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