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RE: Bitcoin on the verge of a major move higher? Richard Wyckoff says yes!
I was just telling my friend on the phone about 30 minutes ago that we are going to drop a little further before we reach a point that buyers will be interested again. The fact that we are below the cost of production for many miners will eventually create a market scarcity and this will propel the price back up.
Perhaps. Though the cost of mining seems to vary wildly depending on where you are.
Very true I know in Australia it can be 10K per bitcoin (where I'm from) and in other nations as low as 3K.