Hey traders its Crypto Crusader. Just giving an update for my analysis on bitcoin. My view doesn't match the majority here (thank god lol)
Simply put Bitcoin could go higher (I'm not going to even give numbers because the traders who give numbers are idiots regarding upside potential in this community), (I don't care about lambo or get rich quick bullshit)
Between 2013 and 2017 bitcoin was essentially flat, same with Crypto in general. I have no problem with bitcoin staying fairly flat at this $6,000 mark. Just like in the gold industry , miners have AISC (all in sustaining costs) to meet profitability targets. Gold can't really go below $1,000 otherwise the gold miners won't be able to make a profit based on how expensive it is to mine an ounce of gold now. It takes $1000 between energy, labor, and materials , to mine an ounce of gold worth only $1230 at the time of this writing.
This brings me to my point how even though bitcoin mining couldn't be more different from mining gold, the same principals exists of (AISC)
The AISC for the largest miners is $3800 for bitcoin, however the majority of pools operating more in the upper $5,500 level.
I'm long on different protocols (because all these coins are, are just different protocols of bitcoin lol)
All these noobs and idiots calling 2019 to match the highs of early 2018 in jan before the crash, quit fooling yourself, that just won't happen, the same people saying bitcoin and crypto makes a comeback in 2019 are the same people who lost money in the crash. Everyone on here does realize the highest volumes ever for bitcoin were before 2015, when bitcoin was at a much lower price. So I figure the smart money is out, re bought on this consolidation, and don't mind waiting 2 to 5 years for another comeback. Dont get me wrong, Crypto will make new all time highs, but not anytime soon. Then again this is all speculation , but if its one thing CryptoCrusader knows, its Crpyto :)
Cheers , and I would say Happy Trading :)
But this doesn't require any action besides careful accumulation
@ATCG, haha yep, i directed this post towards traders like yourself :) you honestly think bitcoin will hit over $60,000 by may of 2019, thats in 8 months about. No way hahaha , you must have lost money on the crash/didn't get into the market in a timely manner and are trying to make up for whatever happend :/