To prove their point, the bankers crossed between the price of bitcoin and the electricity consumption estimate of the crypto mining market, published by the Center for Alternative Economics at the University of Cambridge.
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However, the decline in the production price of Bitcoin may be bad news for those who invest in cryptocurrency, as analysts warn: “It is perceived as negative for the forecast of the price of bitcoin in the future. The cost of production is perceived by some market participants as the lower limit for the price of bitcoin in the bear market.” In other words: the price of bitcoin production is actually the minimum price of the currency. Therefore, with hitherto one would have expected Bitcoin to never fall below $ 20,000, now this minimum has dropped to $ 13,000 – a drop of 35% over the current price, which also represents a 56% drop in the last quarter and a drop of more than 60% of the peak in November.