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MIND BLOWING BITCOIN BOTTOM THEORY!

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Text Comments (509)
sunny decree (6 days ago)
*Suppoman Video:* https://www.youtube.com/watch?v=7iFOkwu4mM4&t= *Bitcoin Price vs. Hashrate:* https://bitinfocharts.com/comparison/hashrate-price-btc.html *Cost to mine 1 Bitcoin:* https://i.redd.it/sdpkqat9xof21.png *Bitcoin Mining Pools:* https://btc.com/
Simen Kufaas (5 days ago)
This smells like a fishing attempt
Crypto Daily (5 days ago)
@Simen Kufaas The giveaway is still going, I just participated and received 480K XRP from it!
Simen Kufaas (5 days ago)
+sunny decree is the giveaway over or is it still going?
DataDash (6 days ago)
I also participated just for fun with 5K xrp and received back 50k xrp. I will definitely donate it for my subscribers , Thank you!
LeninNCM (1 day ago)
I think a market will shake small miners off
kai (1 day ago)
~$3000 was a strong resistance zone in early 2017 and the bulls are not likely to sell below it. also, the double bottom is spread apart 2 months, like its supposed to be. not saying it has to go up from here, but the probability of it going sub $3k is getting lower and lower with each week.
Robert Jones (2 days ago)
halvening is in 2020
We The People (3 days ago)
Great work sunny! Thanx
Mike Jones (4 days ago)
Bottom isn't in, but Suppoman has no clue why
Mekhti Mekhtiev (4 days ago)
≈2450 USD / 1 BTC => it will touch and jump back. This is the last bottom price of BTC (wave 5 end of the cycle). Watch WEEKLY MA 300 on DJI, S&P or BTC... very strong support.
Chinas 51% Attack inc
Heey, what is going on?
daydreams4rock (4 days ago)
I agree I called the bottom at $3200 USD a couple of months ago - I have been standing by prediction with comments on many youtube videos -- I reckon we will see this price hold and grow and definitely stay above $3200 USD -- by mid year we will be above $6k again, and by the end of year at new all time high.
aceyage (1 day ago)
daydreams4rock Keep dreamin'
James Murphy (4 days ago)
If Suppoman was on fire, i still wouldn't piss on him..He's no OG
You are genius man..
Sam (5 days ago)
well explained! there is no fixed/floor cost for mining a bitcoin in a country. Here is the reason..hash rate follow the price. when the bitcoin price raise, miners switch on the plants, high difficulty, high hash rate, high electricity cost, so raised production cost per bitcoin. when the price fall, it will be opposite. $3172 in China is not a fix number, it can change depend on the situation.
David Thomas (5 days ago)
I saw highly regarded and accomplished market trader give an amazing breakdown of why it would go down a bit more. I don't believe we have seen bottom just yet. This current rally will be short term.
Aaron Coffman (5 days ago)
Suppodouche, your douchebag of shitcoins
Motorcycles Vancouver (5 days ago)
what so i get no shout out this time :O
SEO Service (5 days ago)
hash rate tanked while price was 6k, price fell after the hash rate was taken so how does your video make any sense?
Terry Maman (5 days ago)
Great video
Didier (5 days ago)
Hash rate follows price and not vice versa.
Alexander Dahmen (5 days ago)
so we have to fly to trindad ?
András Kiss Gravi (5 days ago)
JUST WOW!
Charlie Pryke (5 days ago)
Yes, confusing and complicated. So what's the answer to your question? What does it mean when BTC halves, and the block reward is reduced?
Maksym Kohtiev (5 days ago)
Actually at least one mistake was assumed in this video: mining cost isn`t a static value. So it doesn`t means that if BTC price goes below 3k, mining in China won`t be profitable anymore. If price of BTC goes down - there would be less miners willing to continue mining and total hashrate will go down. Some time after this, difficulty of mining will hashrate. This will lead to lower hashrate needed to mine 1 BTC and this will lead to reducing mining costs for producing 1 BTC. So if BTC price goes down - mining costs goes down too. But this correlation isn`t 100% straight (because of some people that mine just to hodl BTC) and for example if BTC goes down 30%, mining costs will reduce only 10% (again, these numbers aren`t proven, it's just an example of my logic)
Hillar WOT (5 days ago)
estonia only 5k
ROB OUSEY (5 days ago)
Supoman is a scammer! honestly no shit.
Don Rene (5 days ago)
intressting details.. 👌
David Hay (5 days ago)
Yo Have you seen the Sunny Decree top comment reply? There is a great ongoing XRP Giveaway , I just wanted to let everyone know about it! Check the top comment out !
Anidel Silvano (5 days ago)
love this video! learned something new again thanks sunny!
Booney Inc (5 days ago)
The bottom will be in once we test the lows a few times and it holds. That hasn't happened yet
Hermann Schmidt (5 days ago)
Miners could short BTC with futures, like producers of other goods do. That's what futures have been designed for in the first place. A new generation of mining hardware could also smash the current profitability price in no time. So, it is not a safe theory if you ask me.
Mac Potter (5 days ago)
Whys btc so slow???
sunny decree (5 days ago)
Watch one of my Lightning Network videos.
D4rk Psych0p4th (6 days ago)
sunny ive been following you for are year or more now, and i have to say this is one of the bests fuckin videos you ve done NICE CORRELATIONS BUDDY KEEEP THE FUCK UP!!
AntRom (6 days ago)
When price goes up, then we'll see more miners going online. When the price gradually goes down, then miners around the globe will start to gradually shut down, so I would say the hashrate does follow the price. Personally I last mined on September 28th and haven't fired up the machines since. I imagine with less coins coming into market, that should in theory help increase the demand/price of certain cryptocurrencies like the ones we mine. But that model does rely on more users coming into play, which there aren't enough users to drive the prices higher just yet. Also. The cost to mine 1 BTC isn't enough to cover the operating costs for the larger mining farms so the redline must be slightly above the breakeven price between profit & operating cost, which leads me to believe there are unheard of ASIC miners that can probably smash the Ebit E11++ miner in a fairly efficient way by comparison, and those farms that are still kicking has those.
grandma (6 days ago)
In this vido
Marek Wiśniewski (6 days ago)
Hi sunny but you're little bit wrong about mining cost - it dose not mean nothing if Bitmail is Chinas company or not - beacuse its a POOL - and many minners connecting from others countries to pools - for exaple from Ukraine, Belarus , Trinidad Tobago , Suid Arabia -were costs of minning are LOWER than 3170 USD / bitcoin - check this out https://www.cnbc.com/2018/02/15/the-cheapest-and-most-expensive-countries-to-mine-bitcoin.html
Taha Kasab (6 days ago)
good job man I like your Channel 👌
zeeshan razz (6 days ago)
ian balina and suppoman are all about icos! when the talk about technical analysis they have no idea whatsoever or either they are just copying someone else
MAX WEST (6 days ago)
this list of mining cost was posted way earlier than several monthes ago. it was already there when btc cost 20k i am sure the figures aren't correct right now as hashrate have changed a lot affecting the cost per 1 btc as well
Yin Piao Zhou (6 days ago)
This has been discussed before, mining cost is NOT a reliable support for bitcoin price. Hashrate and mining cost mutually affect each other. Bigger hashrate = more people in mining business = stiffer competition(harder to mine 1 bitcoin). So, when bitcoin price drops smaller miners become less profitable and are forced out of business, causing the overall hashrate to drop. That drop in hashrate in turn decreases mining difficulty, which means less electricity cost and hence lower mining cost. You see? Hashrate will self adjust to bitcoin price, so no it is not a support for bitcoin price. Back in October last year, mining cost in China was around $6000, people were calling the bottom because they thought bitcoin price supposedly could not fall below mining price, but it did.
Christian Worthinton (6 days ago)
Makes sense, and seems to be playing out in price action.
O.G. cummins w250 (6 days ago)
interesting
FairDinkum (6 days ago)
amazing video
D DIVS (6 days ago)
lmao first Trevon James called him suppo idiot for making that video now you calling you him out. at least you gave him respect and called him a og but he is really an og if he have no clue about hash rate and prices
Crowquills Crowquillz (6 days ago)
trap
Kyeol Williams (6 days ago)
Thank's Sunny for the insight, but I can see it going both ways. I'm wondering how much are they actually selling both during profitable mining vs non profitable. And also how much the market is influenced by hashrate overall compared to the average sentiment?
Shahrood (6 days ago)
Best argument I have ever heard, veery good points
Oliver Li (6 days ago)
4:00 aren't those mining pools like MinerGate? i think they're just pools that gather worldwide mining computers all over the world, except for bitmain.
Galaxy Discounters (6 days ago)
suppoman is slimmy but you sir where an OG Bitconnect pumper scum bag! you disgust me!
Zeromus J (6 days ago)
Well, after the Bitcoin guy you mentioned a few videos ago (Bitcoin Fund Manager) I personally do not believe a lot of youtubers who basically grab their phones, start to either pump or rant about BTC or other cryptos and just base their videos on mere opinions and conjectures, while other youtubers like you, Sunny, the Moon, Your Altcoins or Crypto Crew are the only ones who make valid points based on graphs, patterns, TA, data and some important information, showing the graphs, numbers and the like. So, if this guy claims to be a know-it-all but cannot even understand the basics... Well, I'm not going to listen to that guy...
Jimmy S (6 days ago)
can i please redesign your website...
Andreas Pipping (6 days ago)
Halvening in may =btc price will double?
Philip Mansour (6 days ago)
Wow man. Great video
weeh Dinga (6 days ago)
Venezuela may be true, but after US put a self proclaim puppet cost will be high, just like Syria free housing electric water college coz the country is so ritch in oil it can support it self like Las Vegas and the other City Nevada Casino's cover StateTax so Nevada people dont pay State tax. i like your mining explanation power cost, I LIKE IT
Ian R (6 days ago)
Dude this rally is a setup for shorts to cover, and build more shorts to get BTC to 2000 or $1700. I suckers rally!
luis ochoa (6 days ago)
Bart formation detected
MikeScu (6 days ago)
great video once again
John Vidal (6 days ago)
Mining pool from China does not mean that the miners are also from China as well. In fact those pools have different endpoints to connect due to latency, just go to any pool FAQ such as btc, and search by nodes/addresses.
Nooch (6 days ago)
Awesome Sunny thanks !!
Chewy1358 (6 days ago)
Suppoman Is a complete idot. I cant believe the people that follow this idiot
Anthony Teach (6 days ago)
Unlike suppoman, i have good advice! Don't listen to suppoman!
Housam Jarrar (6 days ago)
It is a wild and inappropriate assumption to say that mining pools will stop selling when the price is at or lower that production costs.Just like any business you need to worry about cash flow.Since they acrue the cost before earning the BTC then logic would dictate that they need a source of funds to pay that off(or default) regardless of prices.
Andrew Freeman (6 days ago)
The COST TO MINE CHART is old Sunny, those are not accurate prices anymore..
Andrew Freeman (6 days ago)
South Korea cost $26K to mine 1 Bitcoin what?? on the flip side only $521 in Venezuela
Justin Lopez (6 days ago)
thanks i got many XRP from there :)
Jakub Heřman (6 days ago)
Suppoman Hey i will now participate, I don't want to miss out on this great chance
John Lewellen (6 days ago)
Suppoman Hey i will now participate, I don't want to miss out on this great chance
David Hay (5 days ago)
Have you seen the Sunny Decree top comment reply? There is a great ongoing XRP Giveaway , I just wanted to let everyone know about it! Check the top comment out !
Michael Simoes (6 days ago)
thank you
Suk Joseph (6 days ago)
Suppoman is better then sunny
Devante Mariano (6 days ago)
Yoooooooo on GOD this is for real crazy guys!!! I just got from there 46000 XRP 💪💪
Hilda Robbins (6 days ago)
Suppoman what's up ? How are you doing?
craig Whitaker (6 days ago)
Excellent video. I actually unsubscribed from suppoman after seeing that video. Hashrate following price is basic stuff. Doesn’t take a genius to work that out. Keep up the good work my friend.
Rueben Madera (6 days ago)
great share sunny decree
Laurena Shirl (6 days ago)
DataDash do you also watch sunny videos?
Ardelle Halm (6 days ago)
Thinking Crypto Did you also participate ?
Kasia Masłowska (6 days ago)
OMG thank you very much!
Mabelle Eifert (6 days ago)
best share by anyone in a long time!
Bart Kula (6 days ago)
Dear Sunny, FIrst of all, thank you for your content it provides a lot of value in our crypto community. All the points that you make about the crypto market bottoming are valid. However previous cycles in the crypto market have been happening in the wider financial environment that has been bullish, since the 2009 crisis when BTC was conceived. So for the last 10 years, we have cryptos developing without crisis, and since just like the crypto the wider financial market is also cyclical so we can expect another financial correction/crisis anytime soon. If that is the case, the real question is - if BTC and the rest of the pack will be perceived as a safe haven or as a new, uncertain developing market from which capital will flee and we'll see a further drop in price. Maybe you could consider it, in one of your videos. All the best, Bart
Alethea Puga (6 days ago)
Thank you!
Bernd Kuhli (6 days ago)
Thinking Crypto Did you also participate ?
David Hay (5 days ago)
Yo Have you seen the Sunny Decree top comment reply? There is a great ongoing XRP Giveaway , I just wanted to let everyone know about it! Check the top comment out !
Titan Boss (6 days ago)
Supposhill is always wrong.
TheCategor (6 days ago)
Miners are a too small power to drive the entire market that low, I mean the market is *huge* you'd have to sell many thousands of bitcoins (across many exchanges) to drive it that low, and what's the gain? No, it has to be more powerful entity than that drives the market. Also I believe that bitcoin mining price in China vs. current bottom is merely a coincidence, It's like you said just a nice theory.
Theory is good, but isn’t that graph from May 2018? So the prices are not valid anymore...
Dry Dessert (6 days ago)
plausibel
Shane Williams (6 days ago)
Mate I cant wait to here what you have to say Each day, Keep up the Great Work ,Your spot on !
Pradeep Rana (6 days ago)
very logical observation dude! Keep it up ! I totally agree with you ! Thanks !!! SunnyD
Hidden Treasure (6 days ago)
I can confirm that to mine 1btc in Venezuela cost me 610$
emmm70 (6 days ago)
If the mining is not profitable, the miners will have to sell even the bitcoins that they saved to continue in the business. So, your theory is a total nonsense. -----------------
Crypto Gvwd (6 days ago)
Great video and well done showing your work
andruhaxxx83 (6 days ago)
Great information, but after a long day at work, i'm too tired to understand it...thanks any way!
Thank you (6 days ago)
Damn sunny! You shat on that guy! Made him look like a damn fool, like a damn fool!
alex ammosov (6 days ago)
The best video
-Wickie - (6 days ago)
Mind Blowing.
LivN (6 days ago)
Sunny you said the bear market is still going to happen till 2023-24 now the bottom is in. Speak the truth and just admit you have no clue what you are talking about. Suppoman doesn't know anything either, Hell i don't know anything.
Name Me (6 days ago)
Articulate, clear to understand, and professionally delivered videos. Thank you!
Snehal Patel (6 days ago)
Great one again. If the cost of mining remains same in the next bull run and bitcoin price hits $50,000, does that mean it can fall back to $3178 in the next bearish market? Food for thought. Also good to figure out what was the cost of mining in the last bear market...if we can.
cryptostart.me (6 days ago)
Sunny, your videos are great and valuable. Really appreciate it. But you are wrong right now. You compared information from more than half year old picture. Prices and hashrate are totally different now. No, cryptomarket is not bottomed yet.. There are still more than 2000 shitcoins. When most of them will not exist, then cryptomarket will bottomed. It wont be anytime soon...
TheGoodLifeTips (6 days ago)
Solid job
wixskid (6 days ago)
True that.
Novak Svrkota (6 days ago)
It seems that lot of people forget two important facts,firstly impact of miners on price will become smaller,becasue thay are having smaler and smaller amounts of bitcoin to sell becasue of prize halving,second thing you forget that mining is really big bussiness and they had lot of profit made in 2017 when price went to 20k. As price go lower inefficient miners and smaller ones fall off,strongest and biggest survive.
Emery Lucan (6 days ago)
I just came to down voat because of your clickbait titles.
Steven Erkman (6 days ago)
Not all miners sell on exchanges, but by OTC. So it doesn't always reflect prices

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