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Crypto bottoms when we have our next "world event" similar to covid pandemic
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[quote:Anonymous Coward 85155230:MV81Mjc0MzUyXzk4NjIzMjI4XzYyMkE0QUMz] [quote:ZeroKnight:MV81Mjc0MzUyXzk4NjIzMTAxXzJCODYyRUJD] [quote:nemo_solus:MV81Mjc0MzUyXzk4NjE5MDc5XzQzQzNDMENB] [quote:ZeroKnight:MV81Mjc0MzUyXzk4NjE1MDk3XzcwMkU3RkZC] Maybe this can help. So I work for a giant crypto mining company. And the going idea atm is to buy up all the assets from bankrupt crypto mining companies. We have no debt so I guess that's why they can do it. We were told 8 months to prepare. After 8 - 12 months Btc would be going up. So we were also told march/April is the crash I guess. So I don't think a multi billion mining company with no debt is going to make a foolish mistake such as investing into infrastructure if they didn't know something. I was told the founder was planning for all this to happen. I guess. Just take what I have to say with a grain of salt though. The company I work for has monthly meeting and they talk about all this kind of stuff. I have never attended and this is 2nd hand knowledge from my manager (who I don't really trust, big ego). Any way mr.cheese never stop fighting. Seems your making good judgement calls. Look forward to more. Ps. Sorry for grammar, spelling. I'm lazy. And need my naps. [/quote] Thanks for that very interesting info! Not sure if you have been following this thread for long or not, but a ways back we were discussing what the numbers might be for mining break-even. Would you be able to provide any insight to this? [/quote] I'm new to this thread so I have some catching up to do. As for the break even aspect. It's hard to get accurate information in regards to this, the reason why is because I'm just the miner technician. We have a variety of different miners that hash mostly for btc. Some are cloud hosted meaning we have customers that rent our miners or have there own miners at our location. In addition the company mine btc for it's self. From what I can say, the s17+ only make 0.35$, that's just one miner . Others like the s19 make 0.70$ a day. Based on my understanding and what I've been told these are long term investments. When the price of btc goes down to 10k it's not going to be good. But my job is secure because they planned for this. So I'm not to worried mostly =[ . These miners when first introduced s19 for example cost 14k. In 2019 I think. Now they cost 2k to 4k (could be wrong have to ask again). Of course if the price of btc goes up it won't be 0.70$ a day. When btc was 16k, each s19+ was 0.70$ a day. 365*0.70 = 255.50×8 = 2044$ in 8 years for one miner if the price of btc stays at 16k for 8 years. To be honest I should be using btc as a measurement of value not USD.but it gives you an idea. What happens when btc instantly go up to 100k or more and the difficulty stays relatively the same for that period in time, happy mining people. Most mining companies are operating in debt and didn't survive and more will follow in the upcoming crash. That's why they going bankrupt like Core Scientific . Yeah we are buying their miners. Some of them brand new . Debt is not a good thing and low btc price like 10k is not a good thing. Some at work have suggested we may unplug miners if it hits 10k . I'm sorry if I made any mistakes or didn't answer fully. This is just the limit of my understanding and what I've been told, so take at face value. If I ever get more interesting info I'll do my best to contribute. [/quote] no energy cost here. and the mining rigs are only a portion. [/quote]
Original Message
15.6k is not the bottom.
Crypto will bottom when we repeat the march 2020 "covid pandemic" market crash. Politicians will use this "emergency" to begin their money printing and cause assets to begin their bullrun.
We are not bottomed yet.
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Original first post below
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Thought I would log in under my account because my last post was as an anonymous coward.
Anyways.
I told you xrp would dump at 1.70 last year down to 50 cents. I was perfectly correct while you all flamed me for months.
I told you 69k was the top for bitcoin and you all flamed me for months.
I told you 48.2k bitcoin would resume the bear market due to a bearish gartley harmonic, along with hidden bearish divergence on the daily RSI, classic bearish divergence on the daily macd, 3day RSI trendline resistance, 400 day moving average resistance and 200 day moving average resistance. I told you this on march 29th the DAY bitcoin hit 48.2k. If you can't tell, i'm fucking proud of this one. Told you bitcoin would come down to 20-24k back then.
And i've told you that we are not bottomed yet. I told you 17.5k was not the bitcoin bottom. I told you multiple times.
This won't bottom until everyone is hopeless.
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