Hello! I see possible reversal in point 7400-7600. Buy back starting in 6400 and lower, possible Wave C ending and wave 5 (V) in 5800-5300 area. Place rebuy orders in this two areas.
$3200 is my buy target and won't pay a single penny extra...may have to wait longer but more than 100% confident this crazy BTC valuation will find its real value in 2018 which is not more than $50-60B
ColonelCrypto
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@tammy007, way below the cost of production?.... riiiiiggghhhhtttt....... I think not. BTC would just crumble, who’s gonna be mining at those prices? I see no evidence whatsoever and no TA posted so can you enlighten me? I’m keen to learn more if you have the time to share your workings. Thanks
tammy007
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@ColonelCrypto, even if Mining cost shoots to 50k that won't impact BTC Market valuation...and mind you only less than 20% coins left to be mined rest are mined at dirt cheap price and sold at 10-20x. The argument linking mining cost and market price is extremely weak and has no substance at all.
ColonelCrypto
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@tammy007, you clearly don’t mine then. Try telling anyone who is invested in any kind of mining operation that the cost of production of any asset, be it oil or gold or crypto or even a television, has no impact on price??? That’s hilarious
tammy007
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@ColonelCrypto, if you dont know then let me tell you that in last 7 years hundreds of gold mines were closed because of falling price and higher mining cost and same with oil. Production was cut and many rigs were closed by OPEC in 2015 because of higher cost when price plummeted at 20/Barrel. please do some reading and let me know how i can mine "Television". I am completely ignorant on that!
ColonelCrypto
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@tammy007, you’ve just agreed with my point haha. I’m not sure where you’re getting your ideas from, I never once said you ‘mined’ tv’s.... but if you think that the mining industry has no correlation with the electronics industry then I think you should ‘do some reading’. I’ve been heavily involved in the commodities market for 12 years, and I’m fairly confident that there is a monumental difference between ‘profit’ and cost of production of the underlying asset. You’re just banging on about profit margins, I’m talking about real world cost of production for any commodity.
ArShevelev
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@ColonelCrypto, I think the cost will be lowered if price fall that much
haydarrjr
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Is it stil valid? can we expect that BTC will go down from here with respect to your analysis?