Quote from: Smitty Werben Man Jensen on May 19, 2020, 11:45:00 AM

Quote from: suchmoon on May 18, 2020, 08:13:07 PM

Quote from: hugeblack on May 18, 2020, 05:24:01 PM

What I would like to say is that the decrease in difficulty gives us an indication that the price may fall in the next two weeks.

I think you got it backwards. Lower price may cause a drop in difficulty if the price becomes too low for some miners to continue mining. In theory higher difficulty may cause the price to drop a little bit as miners need to sell more bitcoins to pay their bills. However the total amount of new bitcoins being mined and sold by miners isn't that large compared to overall trading volumes, ~1800 per day.

reportedly 1.3 million miners have been turned off, I do not know this news is true or not,
if true, then this might make Bitcoin a dump, I know if someone new to mine in bitcoin then it is now in vain,
because the price must above $ 14,000 to make miners profitable

I think the news is real and it's just part of the crowd. If the crowds all give up on mine bitcoin for the cost then whales will do it for them. When the difficulty decreases, the whale excavator will produce more bitcoins and then they can manipulate more easily in the future. That's the whale's strategy because they can control the market. When they have accumulated enough bitcoins, they will pump the price of bitcoin and make many miners active again. then they sell for a higher price and many people are trapped. of course this is a conspiracy theory about price manipulation but I feel it is very true. how do you think ?

ajaymukund

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