BTC 6K and Why everyone is saying this :

[xHubaBubax]

It's 9.2K lol nice

[fort116]

because of coronavirus + bitcoin halvning. Im personally gonna invest a good amount the coming few days...
https://www.bitcoinblockhalf.com/

[thebotnets]

btc is the worst investment of my life

[Allura]

btc is the worst investment of my life

You won't be saying that in december

[xHubaBubax]

btc is the worst investment of my life

lol why?
I've cashed out my $2K profit jsut recently.
I've bought the btc when it was 7K, and cash out when it hit 9.2k
was the easiest investment ive made in my life

[SupremeTeam]

20k this year boys

[Breezeyou2]

You won't be saying that in december

Allura, Can you explain the Bitcoin Halving. I have couple of K and i'm thinking of cashing out to for the summer
Does bitcoin halving means it will be dropping to go up ?

[xHubaBubax]

9.8K now. damn! Wish i haven't cashout too early

[helyjas]

luckly .. i 4.2K buy 5 . .. still keep it .when 15k .i will sell it .

[Allura]

Allura, Can you explain the Bitcoin Halving. I have couple of K and i'm thinking of cashing out to for the summer
Does bitcoin halving means it will be dropping to go up ?

Every time a block is mined/completed, the miners get a reward. Prior to this May's halving it was 12.5 BTC per block. Now its 6.25 BTC per block.
The reason we suspect the price to go up is because supply is being halved (which I think has no effect on Bitcoin at this point in time). If demand is constant and then you halve the supply, price goes up. But imo this principle doesn't really apply to bitcoin.

To me why the price will go up is because, whales and miners control the price. For example, the price to run a miner is constant at $5,000 to run a miner and they receive 12.5 BTC. Now the price to run a miner is still $5,000 and now they receive 6.25 BTC. So now profit is reduced, so either miners will be forced to shut down their miners (which will result in a huge loss, mining difficult will go down and new miners will come in and take their place), sell their bitcoins at the current price and take a huge cut in profits or pump the price up and still keep profits the same/higher than before.

What option would you take as a miner?

[Liquid1337]

its 10 k now . easy

[Xootf]

Haha, Bitcoins is always doing unexpected movements.

This is what you signed up for when you invest in Bitcoins