Bitcoin (BTCUSD)

[Strategyone]

Tommer,

I am currently mining and have been for the past two years. I also was a part of a bitcoin mining operation 6 years ago.

I can confirm that Tommer's numbers are legit. There are several variables when it comes to mining. Machine costs; machine hash rate; rent (if any); electricity costs; crypto pricing; the network "difficulty factor". At the current moment with the current difficulty factor, bitcoin costs less than $7k to mine with average equipment purchased between 2017 and 2019 and with electricity around .08/KW

Anything is possible in this world but it is highly unlikely bitcoin will dip back into the $2k range. That price is where it was before the 2017 run up. That would be similar to saying Facebook stock is going to $40 (around the IPO price) again..... To much has happened since that time. For bitcoin, it is gaining hugely in popularity, acceptance and proving it's network efficiency in transferring value. It will not go away now.

Anyone spouting Bitcoin's return to $2k or below simply doesn't understand the underlying technology (besides not understanding charting, trends, basic supply and demand......).