Quote from: MGBloomz on June 30, 2018, 08:52:47 AM

Quote from: cryptoassistent on June 30, 2018, 05:59:11 AM

Can BTC technically survive under 6k?

This is close to a bottom where mining stops to be profitable, meaning that supply of BTC from miners would drop. How much supply comes from miners anyways? Is that meaningful in terms of price movement?

What if miners are not profitable? Does that make them stop and thus make BTC transactions less secure? Do they continue mining in hopes of future price raise?

Why are you worried if the price will go down under $6K? Remember that last year bitcoin was at $1k and miners were doing good. It's just a psychological effect and everything will follow. Believe in this technology as this will bounce back soon.

Just checked the price of Bitcoin and as of last day when the price was below $6000. Right now the price is above $6300. The rise is more than the fall in the price. This is something that gives an insight to the scale at which the market value fluctuates. So we can say that there is still hope and we might see some good days in the near future when the prices will be far more than what we expect.