I was expecting bigger moves early this month. But price seems stuck at 7300 and volumes are declining.
Taking into account :
- Genesis Mining contracts will get cancelled if price does not go above 8-10K before 8 October
- ETF decision deadline on 30 Sptember
Could lead to this nasty scenario:
- Marco Streng & co keep throwing enough Bitcoins to the market so that price goes up not further than 7500
- Bitcoin goes back down towards 6800 end of September
- ETF decision : prices bounce back up
- Bitcoin starts to rally
- But mining contracts get terminated before Bitcoin reaches profitability level again in mid October
- Big Miners now happy can go on mining 100% for themselves, with gear payed for by duped custmers who stepped in after spring 2017.