Bitcoin will hit lower trendline (Trendline B). There is a rising wedge formation on the weekly bitcoin chart. You can google what it means. We have completed retesting that rising wedge and will see lower prices soon. My target is 20k minimum. Ultimately will hit that lower trendline. Volume is on downtrend, which is also a bearish indicator. If the lower trendline B is broken, that will lead to way lower price. But I do not think there will be a breakdown of Lower trendline B. We will see what happens when it hits the lower trendline B.
This is not a financial advice. Do your own research before investing.
@nazariemail I just do my research and post what i think will happen. I don't care if it is a green day or red day. i just try to see the long term perspective
Not a chance. The cost of mining is in the high 20k per unit. In order for price to get that low, miners would turn into buyers and not have enough volume...it’s simply not probable.
@kingpannu, the number of market participants has gone way up(demand) while supply has gone way down due to the halving & so many hodlers. So its very unrealistic to expect this scenario to come to fruition without some major bad news, especially now that theres never again going to be China fud,nor GBTC fud,nor extreme covid disruption,& especially now that we hit over 50k per BTC twice in a few mos span(ppl know it'll be a matter of time til it goes back to ATH,so tons will buy the dip way before 20)