After BTC Price entered Death Cross a few days ago, People are in a race to guess where the bottom of BTC might be!
I will be waiting to buy until seeing the price 12K !
First of all, Are we sure in a bear market? If you say no, You dont need read this post, I need to search for 100x crypto now...
What are the reasons of price prediction for 12K?
1- Death Cross ☠️
A few days ago, 50-day average crossed down to 200-day average in BTC chart!
Here is chart you can see death crosh which comes after ATH!
What happened death cross after seeing ATH in 2017?
Death Cross lasted for 13 months! After death cross in April 2017, Price went up to 200 day-average (fake pump) and dumped during months...
So I will wait for at least 10 months...
2- Trend Based Fib Extension ❗️
While everyone was hoping 38K would be the dip for BTC, I was ready to see price 30K.
Here is Trend based fib extension coming from 64K.
It shows the target!
3- Support Levels ❗️
These are the supoort levels of BTC. Lots of people think that 18K is the dip for BTC.
I don't have the same opinion. I think the price will drop to 12K in one night operation when people buy big amount of BTC at 18K.
Does this operation sound familiar to you?
4- Bitcoin Mining Cost ❗️
In summary, it currently costs between $7,000-$11,000 USD to mine a bitcoin. The lifetime cost of an ASIC miner to mine one bitcoin is on average $15,000-$19,000 USD. As the price of BTC is $56,000, it remains very profitable to mine bitcoin. Although, the entry price for miners has risen considerably the past few months because hardware prices have doubled.
How Much Does it Cost to Mine a Bitcoin? Update May 2021
5- Last Top Before ATH May Be Next Dip ❗️
Here is 2017 chart. Last top before rally going to ATH, became next dip for price.
Here is 2021.
Summary
Here is my scenario explained above...
