Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

Quote from: Biodom on Today at 04:48:01 AM

Quote from: philipma1957 on Today at 04:41:38 AM

<a big snip>

JJG

mining sets the floor price.

I have followed for years and bottoms come in just about right on spot to :

5-6 cent power
and top of the line gear.

basically we hit that in november .

I 100% agree that mining does not set the top of the bull run.

But time and time again mining is what set the foundation level for the bottom.

please note flash crashes are excluded as the have been followed by v style recovery.

1. Approximately..and typically one month or month and a half of declining difficulty sets the bottom (during usual markets, not a calamity).
2. I still hold readily deploy-able funds to buy the flash crash or a sudden dip...it is much more my style vs DCAing, but to each their own.

I have done difficulty posts for years in the mining section as I use your ideas and some others to help determine bottoms for BTC.

So we apparently left the bottom but we could test it again which is why continued investment in mining gear and long term growth of it is very important to have rising btc foundation setttings.