Looks like the scammers at Bitmain are trying to rig the market above their cost of production now. This is how you get the long, drawn out bear markets. They'll do this for months until finally giving up and then it just slowly grinds lower with various miners going bankrupt just like last time. Now the market is entirely just random slobs trying to profit off forecasting when and where Bitmain will attempt to rig it to. If you attempt to trade it, you have to figure out if Bitmain actually wants the price to go up, or if they're trying to keep it lower to bleed out competitors first.
r0ach, are you currently invested in bitcoin or do you plan to in the future?
Genuine question, just curious. You dont have to answer but Im sure that its not just me wondering.
he'll buy back once price has been flat and boring for a while like all smart money. i'm sure he'll come tell us that once that happens. he did say it in 2015.
i'm betting market will turn bullish end 2019, until then unfortunately its what he says... you're jut buying a falling knife hoping the entity controlling the price turns the engine back up.
only way to make money in this market is to treat it as a scam market. its a sad state of affairs, but it is as it is.
@roach, whats your bet on GS next move on crypto? do you think they exit? do they pump ETH again? I'm betting on ZCASH for the biggest gains if we ever have a bull run again. Its barely touched, not many people that can dump on them, entirely controlled, completely scammy but with good and clean marketing image. Seems like a perfect tool to me.