Quote from: Metroid on September 08, 2020, 01:29:34 AM

Quote from: vapourminer on September 08, 2020, 12:38:27 AM

hasnt hash traditionally followed price and not price followed hash?

Yes, if we see eth from 230 to 480 usd, bull pattern. When we see 480 to 310 usd, bear pattern, and we still see the hashrate increasing even with a lower price that means price will likely follow next few days. The more hashrate, the more competition, less likely mined coins will be dumped, increasing the price.

The interesting thing, eth price is getting support faster than I thought it would be after a price crash like that and it shows there are not many sellers at that price range. That is very bullish. I guess at 700 plus will be the resistance, if eth bulls get through that then we might see 1000 usd again.

The price is not back at 400 usd yet because there are people who think bitcoin will still crash to 9600 again to fill that magical cme gap. That might have been filled already. Although is close to that price point, whales dont want to go to 500 usd and then back to 350 usd, so if that gap was not filled then it will be filled before it moves upwards. So there is a chance eth will still crash to 300 ~ 320 and bitcoin to 9600 and then we move to 12k bitcoin and 450 ~ 500 usd eth.

Good call here. I added a lot of gear in the July to October timeline.