Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
That there still are people here who say this is normal market behaviour and there is no manipulation and there is noone trying to take us down is beyond me.
They are not trying to take us down, they just know that when they dump, they'll be able to buy whatever they sold back at a cheaper price. It'll continue until that is no longer the case. Then it will probably be time to pump.
I don't believe this anymore. I see people dumping tons of coins. I don't see them buying tons of coins back.
Either way, they are destroying the market. On purpose ot not. It doesn't even matter. Same thing. They won't stop till it's dead.
Since the peak at the end of last year some enormous ASIC farms have been built. These need to be funded, and that is by selling bitcoins. The whole network has become far more secure against attack, but this has cost million$. Now it is a war of attrition between major miners to remain profitable. Soon it will be cheaper to buy coins in the market than anyone can mine them, difficulty stops climbing and plateaus (until there is a step-change in chip tech). Maybe $370 is the break even for all miners. If so, this will put a floor under the price. The bottom chart is important.
