We have reached a stable stage where supply and demand stabilize at a given price of $ 6,500. The highest rate will be at $ 7,500 and a low cost at $ 5500.
I do not expect this approach to change so we may maintain this price for several months.
After significant changes such as the lightning network, regulations, mutual acceptance of these currencies, prices will change significantly.
Yeah, you are right supply is also low because of the low mining. Miners are not making good profit because there is no big demand for bitcoin. If the price drop little bit more, miners will stop mining because it is better to stop than deficits. Price is almost stable and there is no big activity in the market. I guess that this situation will last till the end of the year.
Miners know the best chance for them is to be patient at the moment and a whole lot of miners that have been in the market in the past have always known this actually.
At this point, no one even knows if the market has bottomed out enough eventually or if we are still going to see more lows in the long run, but for what we have seen so far, it is imperative that we end up having a good and steady growth that is driven by real demand.
Growth driven by FOMOs and speculations are never sustainable. There may not be a big activity in the market at the moment, but it does not mean we won't get to see the big activity eventually.
In my point of view slow growth will last for long because it will be according to the market cap and not temporarily created like the previous one. I am sure that in the next year the price will be good because of huge investment and not because the end of the year. Some people have made their mentality that the price increases at the end of everywhere which is totally wrong.
