StirlingBishop

BTC... the dump continues

Short
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
BTC has not yet reached any serious support. It looks like it should drop to the 3000 level, before the halving.

It will then be pumped up to 8,000 + after the halving, before dropping sharply as miners dump to recover from their mining losses.

This situation is major because once miner profitability drops sharply, rational actors will leave for a more profitable chain.

This will cause the theoretic chain death spiral, which is a vicious cycle where a chain dies.

I expect BTC to drop to $3,000, when this happens BitCoin SV will likely drop over 60% in value as it dumps harder than everything else.

This move could present buying targets between 20-50$ prices. Major fire sale. Get in on the real Bitcoin , as Satoshi envisioned.

TIP ;) :
Craig really is Satoshi, he will be dumping masses of BTC this year. Only one chain will survive the storm.

Comments

Wow, this is still in play. Good work. Any new updates or tips?
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Any updates? Still valid?

Also Bitcoin SV is the true bitcoin ;)
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Interesting analysis. Where do you see Bitcoin SV in the long term future?
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I agree, but not because of Bitcoin own will. Bitcoin has followed Stocks movements closely and Futures markets (S&P 500, Nasdaq, Dow) all of them started Monday going down deep (Limit down stopped them at 5% loss). Markets will probably keep sinking as they open within few hours. So, yes, Bitcoin is probably going DOWN this Monday...
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