From mid-June, Bitcoin managed to fall in price by several thousand dollars and plunge many novice investors into panic. The cryptanalyst under the nickname FilbFilb tweeted a detailed explanation of why newbies should not be afraid of the sudden subsidence of the main cryptocurrency.
Cryptocurrency market will not fall even lower
Recall that in 2018 FilbFilb fairly accurately predicted a new local bottom, formed after the longest downtrend in the history of Bitcoin. Now the analyst has declared that miners will not allow a serious fall in the main cryptocurrency.
In 2018, miners sold bitcoins almost at cost, that is, the sum of the costs of mining coins. Only the most optimized and efficient business survived. Players who could not adjust to the fall in Bitcoin prices left the market.
THREAD
I’ve seen a bit of a hysterical approach that helped me call it. https://t.co/HZ6L38dwKz
– fil₿fil₿ (@filbfilb) July 17, 2019
With the start of bullran, the miners are counting on a gradual increase in BTC up to the halving . Most likely, they will begin to massively sell their coins after some time after cutting the reward on the block, hoping to have the maximum profit from each Bitcoin.
FilbFilb's comment was posted shortly after Donald Trump tweet. Recall, the President of the United States recently publicly mentioned Bitcoin and altcoins , though not in the most positive way. Behind him, cryptoindustry was criticized by US Treasury Secretary Stephen Mnuchin.
I’m not a fan of bitcoin and other cryptocurrencies. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity….
– Donald J. Trump (@realDonaldTrump) July 12, 2019
Of course, the negative statements of high-ranking officials could push the bears to a new Bitcoin plum. However, they also served as an excellent advertisement for digital assets. Hopefully, new investors will realize that BTC is an excellent alternative to the dollar and the aggressive policies of the White House. And thanks to the emergence of new faces in the industry, the situation with the course will clearly improve.
Publication date 07/19/2019
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