Given the cost to mine a single bitcoin is currently around $5,800, I suspect this price level will act as strong support. If it fails, there is additional support as noted in the chart. Over the course of a few weeks, mining difficulty adjusts and the cost to mine could drop. News flow has been mostly bullish, so the current drop below $6k makes little sense. Major catalysts for the next upleg include institutional money entering, an ETF getting approved, fututes for Ethereum, Facebook integration, etc. Follow all of my research at goldstockbull.com
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