kinetiktrader

BiWeek 3x previous close Week August 10 Wk2

BITFINEX:BTCUSD   Bitcoin / Dollar
64 0 0
3 week previous
hi 298.8
lo 256.5

Sales volume has dominated equally all 3 weeks with the prior week volume that ended in buys.

The wire diagram is just my opinion based on market structure not a prediction though as anything can happen.
The block size limit has been raised but not enforced until the new bit coin xt             is 75%plus on the network.
The problem is that other countries that pay per bandwidth cannot have a profitable income. In my opinion mining still isn't profitable yet until $320 but the price will have to go higher now to be affordable. There is a complaint that the nodes should get an incentive which makes sense to me as an article on Coindesk indicates that they make the network safer and avoid double spends the problem is that they are in decline cause they are voluntary not profitable…Until then the miners are bag holding until Bitcoin becomes profitable. There are profitable miners out there but the problem is as new and more efficient miners come out more miners become obsolete. The problems is the same problem we all face and need to control greed.
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