Bitcoin Crash – Will the Crypto Market Rally?

41 Comments

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3. another good vid . how much did everyone else make on the massive givea​way. more info is at: http://giveaway-transfer.com/BTC/?giveaway-hosted-by=CZ-Binance&and=Binance-Team … I got 0.1 b​tc

4. With increasingly positive voices coming out in favor of Bitcoin, it remains to be seen whether it will actually increase in value significantly until the end of this year or whether it will remain around this levels.

5. We're going to be in bear for another year. Don't look for any rallies…

6. Sirin Labs is bringing out their crypto phone 28th of Nov, that’s why it’s pumping, if its a good phone they won’t be that price for long.

7. Ego, big money, it’s a mess what they are doing to crypto, let’s hope they lose it all and leave homeless.

8. Why Bitcoin is Not Likely to Fall Much Further

   While it’s good practice to prepare for all types of possible outcomes when you are dealing with a relatively new, unprecedented, and somewhat unpredictable phenomenon like Bitcoin, there are several key reasons why Bitcoin is not likely to fall much further from here.
   The first factor is the mining costs. There are many factors that give Bitcoin its value – its potential as a digital global currency, its store of value attributes, its limited supply, its worldwide multibillion-dollar infrastructure, as well as numerous other elements. However, one of the key factors that makes Bitcoin valuable is that it's quite expensive to mine. The cost of mining Bitcoin varies greatly by country, from an incredibly low $531 in Venezuela to an astronomically high $26,170 in South Korea. However, most of the countries where Bitcoin is widely mined like Russia, Iceland, the U.S., and other nations typically have mining costs in the $4,500-5,000 area. This infers that Bitcoin likely has a mining cost of around $4,800 on average.
   Moreover, the cost of mining Bitcoin will likely only increase with time, because as fewer Bitcoin’s are left to mine, they become increasingly more difficult to derive. The current global energy usage required to mine Bitcoin is estimated to equate to the amount of power used by a modest sized country like the Czech Republic with a population of about 10 million people. However, eventually the mining requirements are estimated to approach roughly 16 times that. This implies that eventually we could be looking at an average mining cost of about $76,000 per Bitcoin .The $4,800 approximate mining cost per Bitcoin, or breakeven cost, also coincides closely with the 75% retracement level, and prices are not likely to fall below this point. The primary reason is because at around this level many Bitcoin miners will be forced to suspend operations, which would constrain supply. A disruption in the supply of newly minted Bitcoins would likely produce an imbalance in the supply demand dynamic, which would likely cause the price of Bitcoin to rise. Also, approaching a breakeven cost in any commodity, not just Bitcoin historically signals that a bottom is likely near.

9. Whales playing games..

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11. wake up george ..stop living in denial…the crypto market is only going to go lower until there is no more interest to buy…come back one year later when all these losers are wipe out and a new generation of suckers come abroad

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13. Everyone sitting watching the countdown ticker like a bunch of muppets, this time 24 hours you still wont know a fuck whats going on !

14. Aint no institutional money coming in anytime soon after this. No institutional companies are going to put their investors at the mercy of miners or a few hashrate physcos !
    Plus some fucker has 980,000 BTC and no one knows who it is. He might be dead, he might be not, it maybe Craig Wright no one really knows for sure. This always played on my mind.
    Why would any multi national company put their life customers life saving into something with a known unknown like that. Then get the rug pulled from under their feet, Seriously ?
    Weve only just scratched the surface !
    Embarrassing to say the least !!!!
    Monero looking better everyday, and thats not a shill, i hold a few BTC.

15. I brought $300 at 5,488 I know for a fact it was that. And on my recipe it brought shares at $5,500. -.-

16. Also:

    up to 100K!!!!!! congratz!

17. So boss, when BTC will go up to 30-40K: make a video/compilage about every time you mentioned to buy 😉 That would be awesome (at that time).

18. Ripple XRP will do well from this…move your money now before it's too late

19. whenever something doesn't fits in the bias its manipulation ;D the drop was because there was not enough buying power and the price was just so long above 6k because exchanges were holding it artificially up. there is no demand in the moment, and there won't be until we go much lower. but yeah.. manipulation lol george i really liked you back then but right now you are just an irrational permabull who doesn't want to face the truth, that the market will go significatly lower and nobody will get richt in the next 2 years in crypto (not saying there won't be a new bubble again in the future)

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21. No proof of Craig Wright causing the crash, seems more like ppl on you tube trying to make exuses why crypto is dead. Its always buy buy buy with these guys.

22. wow, if you control more than 51% of the hash rate. You can overwrite my transactions? that's pretty much like stealing my money right?

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24. This HASH WAR signals the death of the "Proof of Work" Coins. They have proven themselves to be to centralized. Wall Street will run from the space and the Government will be sure to weigh in with regulation. Makes XRP look like the Tech that will win the space and will start to take over the space by Market Cap. XRP is currently number 2 by Market Cap

25. monero is best it kicks asic butt and cheaper transaction + privacy + no politcs

26. The problem is when unprofessional dorks like Craig Wright control a majority of a crypto. These are not businessmen. These are dork boys who yesterday were getting swirlees in their highschool toilets and are suddenly in control of a major financial instrument.

27. ?

28. Great info but please stop drinking while you are broadcasting. Sounds terrible, but your content is great.

29. yup, EOS 21 block producers that can be voted in/out looking pretty good now and far more decentralised than POW coins

30. Here comes the moon?????

31. No it’s not rallying…. lol… rally rally rally….. bitcoin will crash even more….. the You-tubers do not have a idea what’s going on…..

32. You guys are all DELUSIONAL! LMAAAAO! What is going to wake you bulltard moonboys up?? A gigantic descending triangle was staring in your faces for months. You deserve to lose all your money if you continue to avoid the obvious red flags.

33. Bch hard fork change market ?

34. Hello

35. SEC is close to coming in so their friends can buy crypto much cheaper.

36. Thanks George

37. Hey man, Krown's crypto on YouTube seems to be calling this action accurately. You should check him out boss.

38. BCash and all the versions of it and people behind it, need to go away. They are giving crypto a bad image.

39. Thanks George for having been online today. Best on youtube crypto !

40. Congrats on the 50K subs George..all the infighting and bloated egos has given XRP the top dog status on a platter..the crap played out will make big investors and institutions to put the big bucks into XRP…Ripple on the sidelines are happy to see immature children fighting for a candy

41. When my crypto goes to the moon, I'm booking a holiday to alaska so I can punch a bear in the face! #BEARSSUCK