It means this whole thing can go to zero and halvening don't really mean shit. There is no bottom. No TA.
"The price of any commodity tends to gravitate toward the production cost." - Satoshi Nakomoto
Do you think production cost will drop significantly?
Electricity is not free, you know...
Read the earlier paragraph.
Most of them has effectively zero cost of mining.
Latecomers only sell because they panic (like me), it is the early adopters taking a dump on us.
We are betrayed.