What will be the bottom of 2018?

If it goes much lower, the mining economy will break. All the security guarantees will go out the window. It will either stay above 6K or go to zero.

If people are rational, at least, and given that this trash was worth $20k at one point they clearly aren't.

No, the miners will continue mining at a loss as a sunk cost to protect their investments.
This trash is worth way more than $20k

That's...not the past that's literally the YTD chart. Are you one of those retards that thinks this is equivalent to just gambling, and that "lol you can't analyze anything it could even drop to 1k tomorrow!"

It's called market psychology user, it's not going lower because volume's been drying up, each rally was followed by a shallower downtrend ever since the drop 7 months ago, and everyone else sees this. Everyone else is looking at the same chart you are.

Do you know what this means? It means that people are thinking "Hmm..selling is slowing down, I think I'll just hold onto whatever I have left then." The same way that people wanting to buy are looking at the chart and seeing "Hmm...it could still go lower but I'm not sure yet, I'm going to wait a bit more"

Which creates the reduction in volatility. Most people in the market are aware that Bitcoin in the past has crashed between 70-90% of its ATH, and since we just about reached 70%, people are realizing that selling would be dumb, but buying would be dumb too. It's for this reason that we're going to sit here while people start to have the courage to accumulate, slowly moving the price up, which makes the buyers start to FOMO thinking they missed the bottom, which creates a new rally.

Now, can you explain your logic for why you think this is stupid?

alfaquotes.com/

Where's the sub 1k option ?

>No, the miners will continue mining at a loss as a sunk cost to protect their investments.
Why would they? Maybe some of them will, but a great many will just take their capacity offline.

>This trash is worth way more than $20k
0.4 TPS / GW

>lol you can't analyze anything it could even drop to 1k tomorrow!
Exactly what I think. This market is based purely on ignorance and manipulation. There is zero actual value. Every investor is either an idiot or a crook, so why would you expect anything to make sense?

Every single Bitcoin "investor" is a noise trader.

Thank you for additional confirmation that this is the bottom.

i'm sorry that you feel that way. everything that happens makes perfect sense iif you know market psychology, but there have to be people on the losing site, too. for those individuals the market movements don't make sense i guess

Maybe it is. I make no prediction about the price. It could be at $100,000 by EOY.

But I do know for certain that the technology is trash and that every "investor" is delusional.

>But I do know for certain that the technology is trash and that every "investor" is delusional.
The absolute state of brainlet no-coiners

lol, I don't see price manipulation as a positive indicator of its value.

I mean, for a little while, most people will start to wait and rely on it hitting 5.8k then jumping up, but how long will that really last? Meanwhile, you can then see that nobody has faith in it without that manipulation it's an absolute freefall from there.