Post
Topic
Board Speculation (Altcoins)
Re: [XMR] Monero Speculation
by
smooth
on 09/04/2016, 22:50:42 UTC
I personally think anyone trading altcoins this close to BTC halving is insane, but that's just my opinion, man.

I think a lot of bitcoin speculators will be badly burned in July, as everyone seems so sure the price is going to increase with the halving. In reality, I expect the BTC price to plummet as miners abandon ship en masse.

I doubt miners will abandon ship, unless there is a price drop first. The argument that much of the mining is recent-gen ASICs that are mining at <0.5 BTC variable costs per BTC is reasonable.

I do think there is a high risk that many speculators and long-term holders who listen to people like r0ach and are waiting for the halving pump to cash out will all still cash out when it doesn't happen, leading to a bloodbath (which may in turn destroy the hash rate).