From the beginning of this month, we already heard that the electricity usage of miners were being restricted. I was surprised to see the rally last week. Now it seems that perhaps a bull trap was set up by some with foreknowledge to escape.
My personal opinion is that we have a different situation than before when similarly bad news hit:
bitcoin wouldn't be worth this price if it weren't for the miners continually pumping.
As ASIC mining becomes restricted, I think this could mark a watershed for the market. Here are some of my predictions:
- BTG or Qtum may become the eventual beneficiary of this news.
- Some highly speculative projects will be abandoned.
- ETH 10k target in 2018 still valid.
- EOS & NEO will also have some success.
- Korea may take over mining, but it also may not. GPU-mined coins & POS coins will have better success.
I can see ETH at $2000-3000, i think $10000 is too much. The technology does not warrant that price.
BTC could rise due to scarcity instead.
LTC should rise, GPU tech and widely used coin.
Keep it up man, good post.