Still waiting at 5200 with my buy order. Come lower pls. Remember, it doesnt matter at what price you bought BTC, it matters that you have it in financial collapse.
First of all we are yet to see what would happen to Bitcoin under a financial collapse because Bitcoin was adopted after the recession (better yet in response to it). We have observed when stocks fall, Bitcoin also falls as in the many signs of 2018. 5200 is a very random buy order. Why not $900 or $4200? Just random.
in a fiat financial collapse. $10 goes from buying 10 loaves of bread. to only buying 1 loaf of bread.
(look at zimbabwe dollar a trillion dollars buys you a bread crumb)
or to flip the mindset a lof of bread goes from $1 to $10+
what will happen is bitcoin will go up to trillions of dollars. but the purchase value of goods, assets or services wont match the amount of goods or services 1btc can buy today
this is why we need to start measuring bitcoin against cost of living.. or even just a 'bread loaf value' to detach away from the dollar so we can see a real btc vs goods value
as for people waiting to buy at or below $5k range. bar a temporary fluke of stupidity where a whale sells at a loss.. i dont anticipate a sub $5800. and ill explain why
firstly. if a miner that mines to hoard. is happy to spend $6.1k mining. if they see the market drop to under $6100. they will just divest some of that electricity money and just buy btc from the market and save themselves a couple hundred dollars and ofcourse time.
since november 2017 (retested end of june2018) the community has had 10 months to sell below $5800 .. ample oppertunities. and they havnt taken up that option.(thus market community acquisition cost consensus =$5,800+)
ontop of that if you do the math of mining costs of a BTC. that too sits at over $5,800.(thus mining community acquisition costs consensus =$5,800+)
this basically makes the market and mining both support the rational consensus to not sell below their costs (not stupid to sell for a loss)
i would have said the maths of september is more like $6100+... but its too soon to say that, because 5800 was only a couple month ago so too soon to raise the bottomline to 6100 without giving the community ample option to test. so im cautiously sticking with $5800 for a couple more months