35 days ago I started a thread and I told you btc will go 9k$ bcz china banned miners, but some of you dont believed me, Today BTC is 8100$ in some exchange, Here is that thread:
https://bitcointalk.org/index.php?topic=5130327.msg50545198#msg50545198Now I have a good news , BTC to 50k$ bcz china banned miner, my friend in China confirmed 90% of miner in china are shutdown. BTC can easy go to 50K$ and more.
Less miners = More Demand = increasing price, as simple as that.
Nice idea but it may clog the network of bitcoin. Imagine the population of China and 90% of the miners will shutdown. It may devastate the network since miners are the key factor to send a certain transaction immediately. Well if that happens, I will stand and buy some rigs and mining stuffs so that I can mine in my country. Less miners, less competition and more income.