Bitcoin Price To Skyrocket Soon? Miners Think So
I just read an interesting article that states despite the decrease in value of bitcoin mining has actually got busier. And apparently, with the costs involved, bitcoin needs to be worth $8,600 to be profitable (that is an interesting fact I am glad I came across). So why is mining picking up if people are not making money. It could just be an increase in popularity and people thinking it will be profitable or maybe they are getting ready for another jump.
I do think 3 quarter, maybe 4th will see another big increase but who knows. Maybe the the price will continue to decline as more regulations come in.
On a side note I would be interested in mining but am feeling sites like steemit with content used as money and p.o.s are the future so maybe it is something I won't get into. Not that I am doing it anytime soon. Any profitable miners out there?
Again don't invest what you can't lose. This is just an interesting point about miners
Here is the link for more info:
http://bitcoinist.com/bitcoin-price-catch-hashrate-q3-analyst/
This is a good news but we have been listening this from very long back. Its just that Bitcoin now is in consolidation phase. Soon very high price rise will happen.
Here it is, that trendline, being touched. Short term
Bounce and then lower.
https://steemit.com/crypto/@heyimsnuffles/snuffles-called-for-bitcoin-lower-against-the-trending-bulls-now-what-20180529t012019434z-post
nope, we are going to 2-3k first and then we start the bull market
Well I do hope this is right and not just another bluff. The market psychology is becoming more harder to decipher these days and I personally thought we wouldn't see a rise soon. But yet again, I'll put my dollar on the miners
I think the banks own all the alt coins and are playing with the market like they do in their market....
Well I do hope this is right and not just another bluff. The market psychology is becoming more harder to decipher these days and I personally thought we wouldn't see a rise soon. But yet again, I'll put my dollar on the miners
One of the main things that will make BTC go higher is the mining reward halving event.
This was the catalyst for the last run up. The next one should be even bigger as large institutional investors that are making plays will realize the supply just got cut in half.
This event will happen in 2020.
It needs to go higher. Much lower and mining will be not profitable whatsoever.
Mining hashrate continues to increase for some time after mining becomes unprofitable, since people decide to HODL their mined coins and expect for the better. And here I can't blame them, since if we don't recover from a triple bottom, a bear market might be real.
It is distinguished between 3 types:
Asics have the best performance, although they are nearly worthless after newer models realeased. GPU-Miners probably are your safest bet. I'm not mining myself but i know that most people use multiple rx 480.
Popular ASIC manufacturer is Bitmain
Wether mining is worth strongly depends on your electricity price!
Don't invest what you can't lose.
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Yep, I will concur with you @whatageek. ;) Thank you, sir