Bitcoin fell below $3500, bottomed out? The main ore mining has been unprofitable

The price of bitcoin on November 25th morning and evening for below $4000 and $3500 two integer mark.

This week, the price of bitcoin following Tuesday (November 20th) at $4300 a slight upward correction after tumbled all the way from Thursday (November 22nd) $4500, 72 hours below $4000 support, to November 25th time, bitcoin prices have fallen below $3500, a record low.

According to the Bitstamp data exchange, November 25th, bitcoin 7 days minimum price of $3474.73, the day fell by more than 10%, 7, or about 37.5%. 3474.73 price of $2017 a year 12 month peak of $19290 has fallen to nearly 82%. According to the November 25th mine Pool Pond mechanism (F2Pool) estimates, including the S7/T9/S9 variety of bitcoin mining machine has reached the main currency off price, which is a series of domestic ant S9 industry leader, the “bit machine emperor” products. Shutdown currency price refers to miner machine mining revenues are not enough to pay the money mining consumption of electricity price, can also be understood as a kind of mining cost out of money. If the price fell below $”off currency price”, that is the natural loss of mining.

Bloomberg pointed out that this year’s digital currency bubble burst, by intensified supervision, coin circle bucket, exchange of confusion and other issues caused by these problems in this week have increased. In addition, the biggest victim of digital currency year slump in prices peaked amid the influx of retail market, and NVIDIA chip provider mining etc..

It is worth noting that $3500 is the global analyst bitcoin price forecast of future trend of the watershed.

One says that $3500 is the price of bitcoin inflection point. Senior market analyst Mati Greenspan said, $3500 is that the investor can buy the bold approach. Coincidentally, Aslam, chief market analyst Think markets (Naeem Aslam) said that $3500 may be bitcoin bottom level. The regulatory environment is killing the bulls and bears, has gone mad.

“Bitcoin $more than 3000, $more than 100 if you Fang Ethernet, missed the 2014, 2015, 2016 and 2017, the chance that now is the time”, Forbes analyst Joseph Young today in the social networking site twitter said.

Another school insisted that bitcoin prices will continue to fall.

News BTC analyst Aayush Jindal believes that $3500 may not be enough to dip the currency price decline, under an entrenched stall may be 3200 dollars.

“In the short term bitcoin prices next year 1 month fell to $2500, takes a similar view and Oanda Corp Asia Pacific Trading at Stephen Innes, he also believes that the price of bitcoin has not yet bottomed out. Innes quoted to Bloomberg telephone interview, Innes believes that if bitcoin continues to fall, panic will encourage people to sell, not like other encryption currency attractive assets as investment. The price of gold will rise sharply, will present the inverse relationship between gold and bitcoin.

“Unless long-term investment investors really committed to bitcoin, you should not buy at this time. From now to the next round of the bull market bitcoin may have considerable volatility, genesis trading company (Genesis trading) and Genesis capital (Genesis Capital) business director Michael Moro (Michael Moro) said in an interview with the CNBC, the bottom of the bitcoin may have to wait until the level of $3000 will appear.

At home, BTC. Top founder Yanchel said, the biggest decline in the current bear market price of bitcoin may reach 85%, the lowest possible pin to $3000 (2019 year). Bear axis: $4500 (2019 sideways year). The safety of hunters strategy: 2019 year for investment. Dfund founder Zhao Dongfa micro-blog also joked: “I expected before the price range to the bottom, where? Remember 2013 years, bitcoin rose to 8000 yuan, many people said that if fell to 2000 yuan to sell hunters bitcoin, finally I just saw someone selling at 2000 bitcoin to buy a house.”

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