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Bitcoin Production Cost is at US$13k!

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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