vahidtakro

Bitcoin going back to corona outbreak?

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
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7
what I see in the chart shows BTC is going down again until coronavirus outbreak.

Comments

Not possible. Bitcoin can't stay inside this range for so long. Production costs increased after the halving. Half of all miners would have to quit their businesses to trigger a difficulty adjustment that would move production costs low enough to keep miners profitable in that range for such a long time. But that many miners capitulating at once would drop amounts of BTC onto the market that would send the price significantly below that range. So even if the 2022 price would be around 7k, we would see much more technical volatility until then.
+1 Reply
vahidtakro sebastian.soik
@sebastian.soik, thanks. So you think for how long and how far bitcoin will go down? I mean what is the best time to buy?
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