I’m always happy about different opinions on the development on the market, and different technical analysis to verify or refute my own analysis and opinions. Also, I’m fairly new to this and hope I can learn some things.
I’ll start:
My guess is, that we hit bottom from the last decline, 16 hours ago. I think we will see a rise today (in the next 6 hours or so). I expect the first barrier to be ~200$ which will fall pretty quickly (I think/hope) and after that, ~208$. I’m not so sure if the price breaks through this barrier. But if it does, I think 215$ is realistic.
I hate to be a skeptic, but there is this eerie feeling in all cryptos right now that the bubble has burst. I think the trading we saw a month or two ago was all just hype and, now that the hype is over, most currencies are trading at their true values.
I would really love to see ZCash go up, as my profitability is negligible in mining right now, but, given that we’ve seen it hit $211 and drop right back down, it almost feels like this is it’s stable trading ground.
When I started mining it was 67 and that was in May 2017 and difficulty was at about 1.8mil so when I made my calculations it was based on that back then and to me that was profitable. Even now with increased difficulty I am making a bit more daily than back then so to me nothing really changed in daily profit in but in ZEC profit with coins I’m worse off. But I’m in it for the ZEC for the long run and don’t really look daily at value fluctuations as I’m mote hoping that these coins I’m saving now will be BTC value in the future perhaps in a years time. What I invested in mining rigs was cash I had so luckily I do not have debt repayment and only power usage which my daily job covers. With crypto you should always only invest what you are willing to loose as it is extremely volatile.
as any market matures it will go through predictable phases. initially you’ll see small volumes as early adopters begin to invest along with speculators. if enough volume is available you’ll see traders move in. I believe that’s upon us now. if you’re a true investor in for the long haul you shouldn’t get caught up in daily price action but you would better be served keeping an eye on the fundamentals of why you selected this particular investment. as long as the fundamentals hold course hold your position.
at current levels - think we’re beyond blood, and cutting into bone. actually, if BTC continues tanking ($1,950 will be close to a low imo); wouldn’t be surprised to see more legitimate alts (ZEC included) stop bleeding, and rise in value against BTC.
EDIT: also, at this point, have no problem saying polo is a malicious actor.
Look, when I started mining Ether it was $8 and people were scared as well. Huge online debate over the fork issue. Now is the time to mine. Even if you are only breaking even, or losing a little money, mine now. I do not believe cryptos are done with, but that would require about 20 pages to explain. Those who continue mining will probably look back one year from now and have a stupid grin on their face. Keep mining and ignore the daily “whattomine” numbers – it is a mistake switching coins every day, I think.
I’ve noticed a significant rise ETH, XBT, and ZEC on the 12th of June which I cant seem to conclude why. Now this past few days all these coins are dropping and I cant help to wonder, is it possible that it is because of diplomatic economies of the US and China is currently affecting the coins? I am no analyst but, I’ve been chatting with some and my friend says it surely has something to do with china and us doing something agaisnt/with each other.
I might just pulling this outta my ass, but its a thought nonetheless.
I personally think that ETH and other cryptocurrencies in general have been hyped real hard, with the whole graphics cards shortage and the attention in the general media drove the price up too fast, and now there is a correction, as individuals who thought to make an easy buck are losing confidence.
I agree with you 200%. One year from now I would have a stupid smile on my face on this. Also its really true on what you said on the “20 pages to explain”. I believe cryptos will go far and will slowly replace paper currency. I dont think it will ever be smashed. Media has been putting titles on articles on the declines of prices and rise as negative ones such as “bitcoin going for a possible meltdown”, “everyone is selling bitcoins while prices are high”. Its propaganda in the title itself. China has been doing a lot just to accommodate this new financial trend.
To me I see the world like a big theatre. America has been trying really hard to manipulate global economy but they dont have much to play with other than their military. China on the other hand kept on buying shit. They dont just buy off other companies debts they slowly bring it back up and reap off the rewards later. Anything that has potential to make money in the future they buy and work from there. Same goes with the computing market. Now everyone just wanna go for china stuffs. Its cheaper and the quality is the same.
I might sound a little crazy with this theory… but I say, whatever china is doing, I wanna do it too.
china is a communist nation that’s allowed by the world to practice pro-growth mercantilism. dr god emperor trump is smart enough to realize this is having horrendous affects on our somewhat free markets. as a response; next 8 years you should expect to see a return of american mercantilism.
