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[microunit]

Last few hours ago Bitcoin just dropped down the $9,000 price mark. Analyst says that this is because of bitcoin miners that are selling more than what they are mining as to deal with their maintenance fees, Miners would need the Bitcoin price to be above $12,000 price mark after the recent halving to avoid losses with the cost associated with their mining. The continued selling-pressure will be hard for Bitcoin to bounce back

 

[Brain]

This sounds logical enough because miners wants to avoid running at a loss, with the way things are I'm envisaging a good rise in price of Bitcoin very soon

 

[SCAMEXPOSER]

If the miners must continue their mining acitivites profitably there is need for bitcoin to rise in price and lower transactions fee for a robust bitcoin market.

 

[funkymoney]

With the halvening the miners rewards are also going to fall. But sill the fees of bitcoin transactions are increasing day and day. Miners wouldnot have a problem as far as i am concerned

 

[Brain]

If the miners must continue their mining acitivites profitably there is need for bitcoin to rise in price and lower transactions fee for a robust bitcoin market.

That's true and I believe that what the miners want that why we are having increase in transaction fees to help them mined at a profit. With increased in price miners will be mining at a profit even in this halving

 

[SCAMEXPOSER]

That's true and I believe that what the miners want that why we are having increase in transaction fees to help them mined at a profit. With increased in price miners will be mining at a profit even in this halving

Mining at a good profit with high transaction fee may make them loose in the end cos those who want to buy or sell will be considering the transaction except it the price of bitcoin will keep rising.

 

[Ewogboka]

The transaction fee for bitcoin has reduced now especially if you are sending higher amount of bitcoin like $50 and above. So miners in my opinion can influence the market by either flooding the market with bitcoin to crash the price or hold to increase the price

 

[ElSombrero]

You need to decide who became the cause - miners or whales

 

[SCAMEXPOSER]

You need to decide who became the cause - miners or whales

Both of them can be responsible, whales can buy enough and hold for the price to increase and they can also flood the market to drop the price likewise minners too.

 

[Balint098]

I am optimist that bitcoin will be able to hold out the 9,000 USD mark and will soon rise again to above 10,000, though I'm not sure when it will happens.

 

[SCAMEXPOSER]

I am optimist that bitcoin will be able to hold out the 9,000 USD mark and will soon rise again to above 10,000, though I'm not sure when it will happens.

It has been on this $9000 benchmark for more than two months , something must be responsible for this , I hope it rise soonest.

 

[Balint098]

It has been on this $9000 benchmark for more than two months , something must be responsible for this , I hope it rise soonest.

Pretty sure the price stagnation is caused by this pandemic. Maybe we'll only see another major price hike only after the virus has been successfully suppressed or vaccine for it invented.

 

[hanisanshez]

I expect that the price of bitcoin will rise in the coming months, and this in order for mining to be profitable for miners, the price of bitcoin must double to increase their profits.

 

[Balint098]

As long as bitcoin price can sustain the mining operation in long-term, I think it's good. But yeah, generally I want bitcoin price to rise up again too.

 

[Stoneshaper]

Actually, I don't think that's gonna happen. Bitcoin is an asset that is independent of any economic circumstances, and that allows it to act on its own, so I think it's still worth looking closely, because growth can happen at any moment.

 

[Balint098]

Bitcoin is an asset that is independent of any economic circumstances

Not entirely sure about that - let's just say that if all big investors/whales are just suddenly dumping bitcoin, most likely that not the price will suffer as a result. Even for bitcoin there's the rule of supply and demand that determines its price.

 

[Skustaclee]

This is just a rumour. The main influencer of Bitcoins price falling is the selloff happening in the market by which large volume of Bitcoins are sold in a cheaper price and sellers volume is higher than the buyers volume.

 

[Skustaclee]

Actually, I don't think that's gonna happen. Bitcoin is an asset that is independent of any economic circumstances, and that allows it to act on its own, so I think it's still worth looking closely, because growth can happen at any moment.

I guess you don't know what is happening in the market. People are the one deciding the price of Bitcoin with the interaction of buyers and sellers activity. Large volume of buyers makes Bitcoin price to rise and same goes if large volume of seller makes Bitcoins price to fall.

 

[Josemendez]

This sounds logical somehow but then , what I have known so far is that , bitcoin or any cryptocurrency price is a function of demand . if there is a high demand for a coin , the coin is expected to rise automatically without much stress . thus if the miners are getting high demand , the price should rise but I don't think , this is the case .

 

[Balint098]

This sounds logical somehow but then , what I have known so far is that , bitcoin or any cryptocurrency price is a function of demand . if there is a high demand for a coin , the coin is expected to rise automatically without much stress . thus if the miners are getting high demand , the price should rise but I don't think , this is the case .

Yes, the role of supply and demand always affecting any economy commodity, including bitcoin or any other cryptocurrency. But there are more than just demand that determine bitcoin price.