We all know crypto-market is highly volatile and manipulated by big hands. Bitcoin is now at its lowest point in recent times(touching 6000$). Many already might have been panicked and started to sell their bitcoins.
An important factor that you might have ignored is the mining cost of bitcoin. Yes dude, it is a serious one. Because if the price goes below the mining rate, bitcoin mining will no longer be profitable for the miners. Consequently the miners will stop working. And think from the major bitcoin holders' or market manipulators' view angle. Why would they want that? This will surely demotivate a large portion of the bitcoin miners.
But we need to know that bottom line right? Is it already achieved or not. Just have a quick look in the following info.
(Image source)
- Lowest ones
- Trinidad and Tobago --> $1,190 / BTC
- Kuwait --> $1,983 / BTC,
- Belarus --> $2,177 / BTC
- Highest ones
- South Korea --> $26,170 / BTC
- Marshall Islands --> $14,751 / BTC
- Cook Islands --> $15,861 / BTC
- Belgium --> $13,482 / BTC
Well I think no. It's not yet achieved. It will still go a bit down. The average electricity rate per country is just above $5.0k / BTC. So in my guess, it might go down to as low as $5500 / BTC. But then it's gonna pull trigger for sure and the price will shoot high.
P.S. : I'm just a financial adviser. Do your own market research before investing your own money.
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Yeah ,it won go,thanks to telling nice reasonfor it
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