you can only dream about the cheap bitcoin price now.
we all have to accept the fact that price has gone up and those days are over, there is a good resistance in the $900 price and it can not be broken as we are seeing from the orderbooks clearly.
I think the price of $950 is very cheap.
950 aint cheap any more and it never was, i did post around 800-900 range not to buy when people asked. cheap might be around 500 range
It is possible that the price will drop a little more, due to the panic in the market, but I don't think the price will fall to as low as five hundred dollars.
There are different reasons that make this price unfeasible, one of them is the high cost to produce a single Bitcoin, which according to some experts is something around six hundred and fifty dollars. Another aspect is that the market is much larger compared to a few years ago, and now the demand is a result of people who buy Bitcoin because they need and use it, not just speculators.
650 for Chinese miners and how much for the rest? I think it maybe closer to 800 to produce 1 bitcoin, can anyone confirm what it truly costs?