Quote from: mirakal on Today at 05:14:34 AM

Quote from: jubalix on December 03, 2020, 08:31:46 AM

here comes the 3rd time for 20K I think it's going to do it. Then 30K pretty quick

It failed again, I'm afraid people will start to liquidate and bitcoin will start to drop soon.
We've seen many times bitcoin have tried and failed, so I guess the confidence of investors are slowly getting lost, and we might not see an ATH this year.

Nope sideways is what will continue. You are looking at BTC like a trader or investor.

For mining 17k to 20k is just about the right price.

Mining in July of 2019 price was 13k+ and what happened we tanked. Why is that simply put profits for mining were too high.

Here in Dec 2020 to make the same profits as July 2019 a miner needs 25-30k

if we go to that number fast ie this Dec 2020 once again we would be at a price level that is a bit too good for mining profits.

Now that is drawing an analogy now to July 2019

If you want to think we are going to Match Dec 2017 profits for a miner we need to be at 78k which was not sustainable and we dumped all of 2018.

So thinking 20k has any significance other then it is a round number is foolish.

Personally this year we had 60 flat days back in sept-oct. like 11.9k to 11.8

so we can do 19.1 to 19.0 for sixty days then drop and take off.

Or you could be right and foolish traders panic and sell off.

We will know soon enough.