And another thing about the TA I forgot to mention, but it's clearly visible.
Fibonacci retracement. It's right on the 0.618 so that's a thumbs up from the divine !
im a god lil nigga
my take profit at 8100 hit while i was sleeping. 60% profit on this trade. everyone told me im crazy for shorting while the bitcoin halving nears but every single time these faggots dump when the good news become sellworthy since like 2016.
Knowing the pattern is always superior to wishful thinking, very nice work.
The halving just happened. And the clock is reset and counting down another 4 years.
- Miners now have 50% more difficulty mining Bitcoin. The operating cost is not cheap and in order for those miners to make what they did before, Bitcoin needs to x2.
- Miners will liquidate their BTC. It's really not cheap to mine 1 Bitcoin ( now over $12,000 in operating cost to mine 1BTC in some places ), if it's not profitable to mine they must shut down.
- Flood of BTC entering the market from miners.
- Whales know this and they will also flood the market.
The chance to buy cheap before the big run is on the way.
- The last halving was in 2016 $400 to $19,500
- Bitcoin's halving price is now priced in at $8,500
Historically it took 2 months for BTC to go parabolic. $5000-$2000 BTC is possible before the bull run.
Chart is slightly dated by a some months, but we're priced in at $8500
First section starts at 0.17c in 2011. The first halving in the 2nd box. Will Bitcoin break $100,000 in 2021 ? With the amount of adoption and these hard times with the USD losing purchasing power, this coming run is going to make the 2017 bull run look like a joke.
On that note Mining difficulty is also based on how many miners are on the network. This ensures Miners will stay on when things like this happens. Bitcoin will flood, get bought up, and get real scarce driving it's demand upward.
When the price is right, the miners that came off the network will then return to mining, and that's when we'll really see a proper halving. Some miners will also be upgrading their hardware, as some of their older machines won't be profitable, however long that takes.
This is why I opted for GPU mining, it's more flexible in the sense I can mine other coins at various difficulties, but I'm not doing it now, nor will I again. It's really not nice to be around.
So this is it Tony. This is what you've been waiting for? The big moment. I look forward to your gains.
Still takes a couple of months before the effects kicks in. The BTC supply will start falling short once it bottoms out.
Halving on Google Trends is 5x higher than the previous spike in searches, it's looking good.
Today BTC is so volatile I'm not even going to trade anything. I'm just going to let it pass. If it breaks below that bottom trendline, it'll fall back on one of those. PLUS it can go lower considering what Miners are about to do.
If we can get a $2,000 BTC within 2 months, that would be beyond my dreams, but I'll probably settle for 6.5k, maybe.
Chainlink and Ethereum are also on my menu at the moment but for now I'm holding Tether in anticipation for more downside. Better to invest in BTC first when it starts, let it grow some, and get some Chainlink and Ethereum when that starts booming.
Fear and Greed Index has been in the red for most of the pandemic. It's started rising as the halving came near and BTC pumped. Today it fell back 5 points.
Easy.