Right now it costs around 6800 USD to mine 1 BTC.
As of tomorrow the costs to mine it will go up significantly.
For mining companies, to keep mining the price has to go up for them to stay in the game.
If it doesn't than supply will drop because who would mine Bitcoin for a loss?
This shock in supply brings price up if demand stays the same.
Because price goes up, media starts kicking in so volume and price will start increasing towards new highs.
As of tomorrow the costs to mine it will go up significantly.
For mining companies, to keep mining the price has to go up for them to stay in the game.
If it doesn't than supply will drop because who would mine Bitcoin for a loss?
This shock in supply brings price up if demand stays the same.
Because price goes up, media starts kicking in so volume and price will start increasing towards new highs.
Note
Be aware: directly after previous halving events price dropped sharply
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.