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Bitcoin Mining Costs Low, Yet Bitcoin Price is Crashing?!! #shorts



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The cost of mining a single bitcoin has fallen to a 10 month low, thanks to newer, more efficient mining hardware.

Mining a single Bitcoin now costs around 13,000 US Dollars, compared to 24000 dollars at the beginning of June

This might seem like good news, but constantly rising energy costs, falling Bitcoin prices, and the capitulation of mining operations using older hardware still poses a threat to the network.

Several analysts have predicted the Bitcoin price to fall to around 13k Dollars, which would align with the 80% drawdowns experienced in previous bear markets.

This could cause further capitulation of miners who are unable to make a profit.

How will Bitcoin miners deal with the loss of profitability? Do you think Bitcoin has already reached its bottom, or are you waiting to buy in at even lower levels?

Let us know in the comments below, and please like and subscribe. (YT)

Let us know in the comments below, and please hit that like and follow button. (TT)
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Cryptocurrency Mining
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