Right now it costs around 6800 USD to mine 1 BTC.
As of tomorrow the costs to mine it will go up significantly.
For mining companies, to keep mining the price has to go up for them to stay in the game.
If it doesn't than supply will drop because who would mine Bitcoin for a loss?
This shock in supply brings price up if demand stays the same.
Because price goes...
I think the second wave is completed and we're in for wave 3 like I was expecting in my previous chart. (luck was in my favour).
Market cap is to high for its current revenue.
If,If, If.. thats a bubble word.
I'm in some Put warrants again.
At these prices there isn't much support so I expect to go lower at a fast rate.
Since it is in bubble territory with a lot of dump money right now it will be fast and brutal.
Also Q2 will be hard for most markets in general with all the losses in revenue.
I'm in a put warrant since 865 USD and will most likely close Monday to get in later at a rebound.
I expect the overall market (see DJI and S&P) is setting up for another drop.
When the market rises more, I will add put contracts to my position to lower the average buying price. (Max another 5K)
I will evaluate to hold or sell when the price goes to the lower point of the wedge.
Position:
Put 19.06.20 NVIDIA 175 warrant (DE000VA37Z47) Borse Frankfurt...
