Today, let's talk about several key support levels of Bitcoin from the perspective of mining, which is very helpful for you to judge the market.
1. Electricity cost $30,000 (shutdown price):
It is about $30,000. How did this price come from? Assuming that the computing power of the entire network is 550E, the electricity fee is 0.38 yuan/kWh, and taking the T21 model mining machine, which is currently popular in the market, as the standard, if the price of Bitcoin falls to this number, then mining will not be enough to cover the electricity fee. Historically, there has been no case where mainstream mining machines stopped working when the electricity fee was not too high.
2. Black Swan Support $48,000
(Shutdown Price * 160%): This price is about $48,000, which is 1.6 times the electricity cost. No matter how much trouble there is in history, the price of Bitcoin has never fallen below this ratio. Therefore, if the price falls below $48,000, the risk of buying is very low, although there may be a short-term book loss.
3. Cost support $52,000
This price takes into account the electricity cost and the depreciation of the mining machine. If the price of Bitcoin is lower than this number, basically the risk of buying a BTC on the market is much smaller than those miners who invest tens of millions in mining.
4. Bear market support $60,000
$60,000. In a bear market, the price of Bitcoin will fluctuate around 2 times the electricity cost most of the time, which is around $60,000. For medium and long-term investors, this price is a good entry point.
These support levels can be used as a reference when you invest in Bitcoin, but the market is always unpredictable, so everyone should still buy the bottom in batches according to their own situation.
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