Bitcoin Price Support Levels
Given the cost to mine a single bitcoin is currently around $5,800, I suspect this price level will act as strong support. If it fails, there is additional support as noted in the chart. Over the course of a few weeks, mining difficulty adjusts and the cost to mine could drop. News flow has been mostly bullish, so the current drop below 6k makes little sense. Major catalysts for the next upleg include institutional money entering, an ETF getting approved, fututes for Ethereum, Facebook integration, etc. Follow all of my research at goldstockbull.com
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