JPMorgan: the cost of BTC-mining fell down to $13000
Declining of the BTC-mining cost from $24 000 to $13 000 has occurred in the last two months. According to the JPMorgan Chase’s experts opinion, this is one of the main signs of a bearish trend.
The reason for the decrease of the first cryptocurrency’s cost is the less energy consumption. According to the Cambridge consumption index the level went down from 14.18 GWt to 9.77 GWt.
Analysts have an opinion that the price containment will be maintained by switching off the unprofitable equipment. To speak about the positive signs, experts noticed that the necessity of sale of tokens to pay for current debts has declined recently. The main difficulty is that the market participants perceive the cost of mining as the lower price limit.
Notice that miners’ sales off , BTC losing the 60% of price and impossibility to fix above the $20 000 influenced all market participants. For example the mining companies lost more than 70% of their shares cost.