Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Prepair for total doom.
One major sell-off shaking out the weakest hands on Earth.
One major sell-off shaking out the weakest hands on Earth.
I'm watching, and sure, current rate sucks, but look at the resistance around 30k, that's bullish to me.
Hope i'm wrong. Potential bottom touched serval times now but if it beaks...
Diamond Hands will prevail.
I am no technical expert by any means... but the more tests on resistance... the less it can be expected to hold.
It does not look like we are done. It's kind of hard to fathom for me honestly.
You seem to be referring to support, no?
Support is on the way down, and resistance is on the way up. Or am I missing something regarding what you seem to be saying?
Blocks seem to have slowed down a little more over the last day.
Apparently, 70% of Chinese miners had shutdown by about the 23rd, and by the end of the month that number would be 90%. End of the month right now so might be holding true. We definitely need that difficult change though, good thing transactions are majorly down otherwise there would be a big traffic jam.
I bet the dollar signs in Phil's eyes are spinning right about now with this circa 25% difficulty decrease we are looking at.
My Chinese miner info comes from the following
https://twitter.com/SinoCrypto/status/1407524185228840965
Apparently, 70% of Chinese miners had shutdown by about the 23rd, and by the end of the month that number would be 90%. End of the month right now so might be holding true. We definitely need that difficult change though, good thing transactions are majorly down otherwise there would be a big traffic jam.
I bet the dollar signs in Phil's eyes are spinning right about now with this circa 25% difficulty decrease we are looking at.
My Chinese miner info comes from the following
https://twitter.com/SinoCrypto/status/1407524185228840965
Counting the blocks from the last 12 hours and we are running at 72 blocks a day right now, that has to be the slowest the network has been. Half what we should be at. Difficulty drop might be closer to 30% when it happens.
Hash rate now at 89EH/s
At this rate I think it will be a week till this epoch is over.
I had heard that there was something in the code that caused a maximum drop of 25% per difficulty period... I am trying to remember where I heard that.. on a podcast with someone familiar with the code, I believe. So, with 22% to 24% drop in difficulty projected, we are getting close to a 25% downward adjustment right now.. but still about 4 days or more to go.