Bitcoin (BTC / USD) Bullish Why? - What Nobody is Telling You and you Should Know

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(Edited)

The key is the costs of Bitcoin mining

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Let's see

As we see on the page these are the costs of mining Bitcoin currently.

These are the electricity costs for the year 2018

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Source: https://www.statista.com/statistics/263492/electricity-prices-in-selected-countries/

The cost of electricity must be adjusted to an average. We have from $ 0.33 per kWs from Germany to $ 0.08 from China. We will take the value of China's electricity as it concentrates resources and low prices.

Mining team earnings page

Captura de pantalla 2020-05-06 a las 5.19.35 p.m..png

Source: https://www.poolin.com/

As of today these are the team earnings.

If we adjust the price of KWs to the value of China $ 0.08, this is the profit per team.(At higher values ​​more negative to mine Bitcoin, try to put higher values ​​on the page)

Captura de pantalla 2020-05-06 a las 5.19.14 p.m..png

As we can see, the profit is significantly reduced.

Now let's see what happens after halving.

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Source: https://www.poolin.com/

As we see at current prices it would not allow profit to mine Bitcoin

Therefore for miners the price of Bitcoin below $ 10,000 after halving is pointless.

To reflect

  • Many analysts talk about a Bitcoin correcting up to $ 2500 dollars - Does it make sense to affirm this?

  • Others speak Bitcoin after Halving at $ 4500 dollars? - Does it make sense to say this?

  • Bitcoin at $ 6500 dollars. What do you think?

Analysts would have to say will there be a correction after halving or have we already seen it, with the correction of the pandemic?

To be continued ... Leave your comment or vote if you want to know more ...

What you think?

Does Bitcoin's Price Break Up or Down?

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2 comments
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As we see at current prices it would not allow profit to mine Bitcoin
Therefore for miners the price of Bitcoin below $ 10,000 after halving is pointless.

You forget to mention difficulty, if btc mining is not profitable anymore on price level xy some miners stopp mining, which results in a reduced difficulty, which make mining profitable again.
(After 2016 Blocks the difficulty gets calculated new).

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What I mean by the report is the little profit from mining at these prices and how they decrease after Halving.

Mining has cost of:
Equipment
Infrastructure
Electricity Cost
Maintenance
Operating cost

Hash rate
I forgot to mention the difficulty, thank you for your comment, but as I see over the years, the difficulty goes down, for a few weeks after having, to find a balance in the cost benefit equation, which after 3 weeks at the most it is at previous or higher levels.

The profit has been maintained in mining over time as a result of the rise in the price of Bitcoin, the Hash Rate adjustment is a correction that occurs to keep the network running.

Captura de pantalla 2020-05-07 a las 11.14.13 a.m..png

fuente:https://insights.glassnode.com/buying-the-dip-investors-accumulate/

Thanks for participating.

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