China and Bitcoin mining decisions can change things in the market...steemCreated with Sketch.

in #bitcoin3 years ago (edited)

Electricity fees are very cheap in China, that's why this country has (until now) 70% of the Bitcoin mining network. But now, the government has decided to simply take out all coins from the country, putting an end to all kind of mining activity by simply raising the fees linked with electricity. The most important consequence is the fact it could be yet another turning point in the Bitcoin price evolution, this time making it surge as there will be less coins in the market. Russia (another country with cheap electricity fees) seems to plan to take 1/3 of that Bitcoin mining network from China.

What is the most important consequence for us ? Bitcoin price may be sinking right now, but trust me it will go up rapidly, probably before the end of January. So if you wanna buy it, buy it now or never. Maybe at a time in the year it will fall down again, but you will have to wait till mining activity gets back on track again, generating more and more Bitcoins. That won't happen overnight, even if Russia takes all the mining network.

FULL ARTICLE HERE :

https://news.vice.com/en_us/article/59w5eb/china-is-about-to-kill-nearly-all-bitcoin-mining-operations-in-the-world?utm_source=vicefbus

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I think there are quite a bit of big players using pump and dump to manipulate the price - selling high and buying low. That’s the smart thing to do - don’t act on FOMO (Fear Of Missing Out), I’m just going to HODL what I’ve got.😎👍 I look at the crashes as wonderful entry points to buy, buy, buy! Blockchain is already the future of money and therefore it ain’t going anywhere but up.

That's the typical mentality I have too, best way of seeing things I'm sure :D Using entry points to buy when it's low, and never think twice about doing something, it's a waste of time. Hold what you got and try having more when it goes down. People freaking out are pathetic, because as you say, no money has yet totally disappeared, it's not like it's gonna go down until reaching 0. Not many people actually understand that cryptomoney is here to stay. So whatever you buy in the top 30, it will only go up one day, you just have to buy and wait long-term without looking too much, people are emotional. Day-trading is also a big mistake, I mean it is not for me, maybe some people are specialists. But I definitely prefer long-term. Less stressful.

"Bitcoin price may be sinking right now, but trust me it will go up rapidly, probably before the end of January. So if you wanna buy it, buy it now or never."
You are absolutely right, it is going to increase very high at first for some periods and mow is the right time to acquire some coins prior to when it is going be appreciated. 2018 is a year for digital currencies.

That's really the typical scheme : everything falling down again like just before Christmas, then everything shot up skyrocketing : that's the benefits from looking at the graphs often, we're getting used to it now, we can understand what it's all about, people reinjecting money, doing more trades, and it will all go up again, so those holding must keep holding without panicking, and those about to buy must buy, I feel bad for day-traders, those are having a hard time now haha

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