Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
So zooming out to 1d on the chart, from 5/24, bitcoin is just looking like your typical PnD bubble that we've seen so many times before. A blow off top, followed by long legs down.
Looks like it could eventually deflate all the way back to ~450.
I think so its slowly going down to healthy ground...to 400$..till next pump Looks like it could eventually deflate all the way back to ~450.
400$ ... that is impossible ... maybe only if the dollar doubles its value.
Miners where complaining when it was $300-350$ that it is too low, and they said they need at least $400+ to be prosperous. Meaning that their cartel, with half of the coins they where getting then making them now to need at least $650-700$ to be relaxed and $900+ to have no worries. But considering that there will be barely 4 million more coins in the next 12 years that will be semi-easy to mine, their supply is on thin ice till mass adoption. Meaning there will be a time when they will hold all and stop selling.
