Spot Buying #BTC #SOL #ETH
SL 15%
60k is the level of Electricity cost level
Stick on plan.
- The bad case: BTC might take whole summer to move like crabs until you get bored and leave market. It takes off when Q3/Q4 comes.
- The good case: bulls don't have to wait too long.
Runes/Ordinals/BRC20 is speculation game on the way BTC back to fair value.
Study it. Don't miss it.
If you suppose Bitcoin is a product and the total cost to produce this product is 100k$
Why it is being traded at 60k now ? lmao is it heavily undervalued ?
There are 2 cases here:
1/ mining stocks are overvalued
2/ at current rate after Halving Bitcoin is heavily undervalued
Hype projects like #ORDI will have another run after June.
Patiently wait buy zone ~ 20$ in May or June.
→After Halving 2020 many DEFI projects were released and there was pre-pump summer on Defi projects like COMP SNX MRK ...
Real bullrun DEFI appeared at Dec 2020.
→Study RUNES projects incoming . . . . First pre-pump then a realbull will start like DEFI bullrun 2020.
after Halving in 3 days, Mining profile (Red zone) will be adjusted and move up doubly
So I expect Crypto Summer 2024 price action will be like Summer 2023 & 2020.
If you have free cash now and are considering which one is better to invest in midterm(Stocks/Gold/Bitcoin/estate ...) ?
Bitcoin is obviously undervalued below 66666.
There are many participants in crypto industry:
1- retail miners
2- pro miners
3 - holders
4 - High leverage traders
5- Big fund ( Microstrategy, Blackrock, Grayscale ...)
6 - Owner of exchanges
When BTC is undervalued some will gain other will lose
When BTC is back to fair valuation some will gain other will lose
Be sure you are in right position.
as my understanding, after Halving, Electricity cost to mine a bitcoin is 60k
Total production cost to mine a bitcoin is 100k (including Electricity + Factory + Labor ... others)
So if I am a retail miner, my mining business could not get profit if BTC price is below 100k
So I would rather hold BTC than mine Bitcoin.
Bitcoin is heavily undervalued after Halving.
I am really trying to understand the economics of public mining stocks. I am picking #Riot to focus on.
Riot is down big, but still worth 2.1 Billion USD. That's 34,000 Bitcoin at current valuation.
In Febuary, Riot mined 418 Bitcoin. With the halving, thats a rate of about 209 Bitcoin per month, or 2500 Bitcoin per year.
Now, lets assume they don't buy any new miners, and they have completely free electricity and zero personel costs.
Well for the next cycle, they mine 10K Bitcoin.
The next one, 5K Bitcoin
Then 2.5K Bitcoin
In other words, they only ever mine 20K Bitcoin.
And that's assuming costs are ZERO, which they clearly aren't.
So why would anybody choose RIOT over the 34,000 Bitcoin?
I may have made a mistake here. Riot investors, help me out. Or weigh in if you have an opinion.
Runes ecosystem will start in 3 days, exactly the date of Halving.
Still no Runes projects listing in Binance yet.
BRIEF SUMMARY:
→ Runes are the new standard for transactions on the Bitcoin blockchain.
→ The key difference between Runes and BRC-20 tokens is that Runes are interchangeable, while BRC-20 tokens are unique and not fungible.
→ Runes are similar to ERC-20 tokens on Ethereum, while BRC-20 tokens are akin to non-fungible tokens (NFTs).
https://twitter.com/FTI_DA/status/1779979775651561691
After Halving electricity cost is 60k
It 's so weird if BTC goes lower below electricity.
In history when price went lower electricity cost It was about wicks.