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RE: [ Bitcoin ] Another approach in finding the bottom of Bitcoin Price
Very interesting video and comparison. But this does not mean the bottom is in. What is does show me is that if we fall to $3500 we will go back up again as the average mining cost is much higher than $3500.
I agree. I forgot to add the article with all the costs per country. Here we go: https://www.marketwatch.com/story/heres-how-much-it-costs-to-mine-a-single-bitcoin-in-your-country-2018-03-06
I see South Africa is at $5948. And I thought we had cheap electricity?
And China is at $3172. I think most mining is in China. So does that mean we will go down to $3172?
Unfortunately, yes it could go down to $3172. Tone Vays has a target of $3500. So maybe he is right?
Hope not