Or it's falling because 3600 coins a day are released and there's obv not $1 mil/usd flowing into the market on a daily basis to buy those coins. The price of BTC needs to fall ALOT more before it stops falling.
This is going to happen for another year and a half! then even once they halve it will be 1800 coins/day which is still alot for another 4 years! This pig ain't going anywhere for the next 5-10 years
That completely makes sense. Obviously there is not enough capital flow coming in, thus driving the price down. All the new coins being generated daily are being dumped on the open market and if there is not enough buyer, miner are pretty much willing to let go as low as possible in order to convert all that to usd. Furthermore, very few ever put into consideration how cheap electricity are in certain countries which we all thought was 280,the level for miners to break even, but that was obviously not the case.
Jesus the IQ's on here..