Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
it's important to remember that the average electricity cost of Bitcoin is around 60k. the likelihood of Bitcoin staying below these price levels for the long term is not very high
Miners don't decide the price, the market does. If it's not worth mining, some will quit, the difficulty will drop, and the electricity cost per mined Bitcoin goes down.not so true. mining growth has been tremendous. even as profits keep reducing.
if you look below you can see difficulty has basically just gone up since the nov 2021 high go 69 k
