Back down to super low volume. Are we thinking consolidation and up or are we just waiting for the next bit of news.
450 used to be the norm. Before that it was 620, and before that it was 800.
If 425 becomes the new normal flat line on low volume, which is lower than the previous one, it just means that at last dip, once more and again, more fiat got out than new fiat came in.
Apathy sucks. Let's hope that volume picks up on Monday.
Also every day there are 3,600 new freshly mined bitcoins, and part of them are sold to pay electricity bills, try to recover money invested on the miner, investing on more mining power or present/future panickers.
That means it is needed up to $1.5 million daily deposits to maintain the price stable. (Actually less because some will hold no matter what, so you can guess something like 25%-50% of $1.5 million)
the last time I checked,the amortized mining cost of 1 bit coin was 700 dollars using the latest cheapest equipment. the overwhelming bulk of all coin mining is being done with the latest cheapest equipment, as can be easily inferred from the hash rate graph.