
Bitcoin falls below $6,000, and one crypto trader says it will go lower - john58
https://www.cnbc.com/2018/06/28/bitcoin-is-below-6000-but-these-other-cryptos-are-hot-says-trader.html
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anoncoward111
>[below $5,000, that's when miners start asking themselves, 'is it worth
keeping this machine on?']

That's what we said when Bitcoin was at $30, when it was at $300, and I'm sure
we will say it again when it's at $3,000.

You don't have to be a genius to predict Bitcoin's market swings. A miner
incurs capital and operational expenditures to acquire fancy digital tokens
known as Bitcoin, Ethereum, etc.

That miner then needs to have the intestinal fortitude (aka "stomach") to hold
on to those coins while waiting for the next viral hype cycle to occur in the
coins they own.

If it never comes, the miner loses a lot of money, permanently. If the hype
cycle does come, then at that point it's just an exercise in guessing the top
of the market to maximize profit.

Trading anything in the world is just like this. Beanie babies, gold, retro
video games, and so on.

