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Bitcoin’s production cost fall?
Credit: UNSPLASH
Credit: UNSPLASH
A group of strategists at JPMorgan, led by Nikolaos Panigirtzoglu, noted that the cost of producing bitcoin has declined.
Credit: UNSPLASH
This was due to the recent drop in electricity usage as reported by the Cambridge Bitcoin Electricity Consumption Index.
Credit: UNSPLASH
Bitcoin's hash rate has also fluctuated over the past few weeks, but it has shown no clear signs of decline.
Credit: UNSPLASH
He Experiences Positive Growth in the Price of Bitcoin, There Will Be Less Selling Pressure on Miners to Sell Their BTC Tokens.
Credit: UNSPLASH
There will also be short selling pressure on investors who are trying to avoid further financial risks.
Credit: UNSPLASH
But a drop in its cost of production will have a much more negative impact on the overall bitcoin price.
Credit: UNSPLASH
Will not encourage investors to trade BTC tokens further.
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