Once again, we go lower. But we are also getting closer to the bottom I believe. It will turn, just like it turned at $20k. Currently we are at $7117 on Bitstamp.
Yesterday I saw a very interesting video by Alessio Rastani on YT. He has 2 graphs. One for gold and one for Bitcoin. He then compares the production cost of gold and Bitcoin to the prices.
It is clear that the prices will fall close to of just under the production price. He also has a chart of the production cost for a Bitcoin for each country. Very interesting indeed.
Here is the video Alessio Rastani made:
As you know I follow many commentators on YT and Tradingview. It seems like we are close to a support level around 7000 and we might see a small rally to 7500. But the then the down trend might continue. So take care with your trades and bots.
Do you think we will see a small rally to $7500 this week? Will we go down again?
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Colin Brazendale
Email: cwb197@gmail.com
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More information about me:
I love Steemit and I have been blogging here since June 2017. I am always looking for ways to increase my Steem and SDB holding. Lately I have started trading bitcoin and altcoin using an auto trading robot. So far it is going well, and I am in profit. 😊
Most of my time is spend on internet marketing for my clients on Google Adwords, but I also love network marketing on the internet.
I have been cloud mining for the last 2 years, but stopped promoting it due to the low returns from Jan 2018.
Why I joined Zukul Trade:
How to get started with Zukul Trade:
Proof of earnings 18 May 2018. The auto trading bot made $170.88 in the last month in down market.
Contact me via email cwb197@gmail.com for more info on the auto trading bot.