Quick update on the Bitcoin's chart presented yesterday.
This is what I posted yesterday:
https://steemit.com/bitcoin/@luiggih/bitcoin-btc-usd-hammer-time
And this is what has happened
BITCOIN/USD has broken the pennant downwards. However, it is still possible to draw a bullish channel.
This bullish channel could be a bearish flag if the underlying trend has not changed (super bearish scenario)
However how low can bitcoin go before all miners quit?
Some people say that below 8k mining starts to be unprofitable for several countries.
Other say that below 6k is no profitable in most countries.
If you got a good answer about the minimum price that miners need to keep mining don't be shy and post it up in the comments section!