cryptodaily I wish someone told me this before
Bitcoin has never traded below its electricity cost of production.
Historically, Bitcoin's electricity cost of production has acted as a major long term floor during bear markets.
The current estimated electricity cost of production sits at $49,000, meaning miners remain profitable above this level. If Bitcoin were to fall below it, many miners could begin operating at a loss, potentially reducing selling pressure as less efficient miners shut down.
Do you think Bitcoin will ever trade below its production cost?
Follow @cryptodaily for daily market updates
#Bitcoin #Crypto #BTC #Investing #CryptoNews
Bitcoin has never traded below its electricity cost of production.
Historically, Bitcoin's electricity cost of production has acted as a major long term floor during bear markets.
The current estimated electricity cost of production sits at $49,000, meaning miners remain profitable above this level. If Bitcoin were to fall below it, many miners could begin operating at a loss, potentially reducing selling pressure as less efficient miners shut down.
Do you think Bitcoin will ever trade below its production cost?
Follow @cryptodaily for daily market updates
#Bitcoin #Crypto #BTC #Investing #CryptoNews
