The demand depends on the offer, this is the marketing essence of the complexity inherent in the bitcoin mining algorithm. It is assumed that miners who have become hardware hostages of the blockchain will be forced to raise the price due to the increased cost of virtual coins.
The last test was conducted in the first half of 2015, when the price dropped to $170, after which levers appeared and the price beagn to rise again. Since then, the complication of the protocol occured once, that is, we can assume that the price should rise to $350, plus an increase in energy consumption due to natural inflation.
As you can see, the hardware does not grow in price, since the calculations as such have no real value, and if in some geographic points the electricity has increased, this is not important. In any case, the price was compressed within $300-700, that is, a couple of years ago.
It is also natural that supporters of cryptocurrency of this period for various reason will not (and some will not be abble to) sell at the lower price, the bitcoins will start to buy again, since there is simply nothing to do (lately too much attention has been paid to that).
Of course, regulators in this area are the most experienced financiers, so no artifical measures (such as ETF) will be applied until the price falls to this minimum in a natural way.
Nevertheless, a sharp reversal may occur earlier than when the price will be in the area of accumulation of important trend lines and levels, namely somewhere in January (taking into holidays - February) in 2019.
The last test was conducted in the first half of 2015, when the price dropped to $170, after which levers appeared and the price beagn to rise again. Since then, the complication of the protocol occured once, that is, we can assume that the price should rise to $350, plus an increase in energy consumption due to natural inflation.
As you can see, the hardware does not grow in price, since the calculations as such have no real value, and if in some geographic points the electricity has increased, this is not important. In any case, the price was compressed within $300-700, that is, a couple of years ago.
It is also natural that supporters of cryptocurrency of this period for various reason will not (and some will not be abble to) sell at the lower price, the bitcoins will start to buy again, since there is simply nothing to do (lately too much attention has been paid to that).
Of course, regulators in this area are the most experienced financiers, so no artifical measures (such as ETF) will be applied until the price falls to this minimum in a natural way.
Nevertheless, a sharp reversal may occur earlier than when the price will be in the area of accumulation of important trend lines and levels, namely somewhere in January (taking into holidays - February) in 2019.
Comment:
Check out my previous scenario in my blog. This year has no mistake.