The number one cryptocurrency, Bitcoin has dropped more than its market value after some great turn up from the currency during the last December period, now its hovering around $7,613. Fundstrat International Advisors’ data science group, came along with a bitcoin mining model that has the ability to determine that the recent cost amount for BTC is below the threshold to produce it.
The funds that report which was accessed by CCN, Discloses that it is essentially a wash to mine Bitcoin as it stands now, Bitcoin now Trades currently on down price of mining a Bitcoin which is around $7,613,
A report coming from a mining model “KEN XUAN” States that miners gain has been slashed by 50%, adding as an injury to miners, The cost per transaction can be on the decline, according to the data gotten by CNBC.
Furthermore, the Fundstrat Report states” the gear update is taken to be greater than 50% of the mining expenses. While the Fundstrat strategist Sam Doctor based the calculation to arrive at the BTC floor cost in part on power costs of $0.06 per kilowatt-hour.
The hardware used to mine Bitcoin can carry you forward around some couple of hundreds to thousands of dollars. But as soon as the gear becomes outdated, the gear will have to be changed, so as to stay along sides with other competitors who are making use of GPUs to solve puzzles to progress the Blockchain and make their profit.
This is very poor for the price of mining to take the place of Bitcoin itself, Fundstrat states, Suggesting that the current several signifies a “trough” and that the period is not the best time to Trade.
Bitcoin kicked off the day at $7,862.11 and not a lot changed throughout the early morning, an increase of %7,877.10 then decreased to $7,548.85.
While the decrease in the support and price of Bitcoin has caused a price retreat towards the market, at some point you will have to accept that the bitcoin price was meant to happen that way. The more individuals and users get involved in the great change that the Bitcoin network is experiencing, it seems the individuals are having less faith in the way bitcoin market.
Bitcoin is still the main coin in the market with its dominant position as the 1st, But it is losing its dominant for the past few months, While the decrease in the value of Bitcoin is a hard thing to see, what it brings will make long term investors very happy.
They have been some great success on the circulation and the day Trading of the cryptocurrency market in the past times,
So the best thing to do is increasing the long term position for some years.
As the price state of many coins is experiencing a huge retreat over the past few weeks, the current decrease in the value of Bitcoin has been the reason for the price of many other coins. Almost all Altcoins has a price level that is largely connected to the price of Bitcoin, which has resulted in the fall of many coins to a level below what the tokens worth.
How is the Bitcoin price retreat a good thing for long term investors?
Regardless of the price level that an individual can afford stakes in some current platforms and tokens, the long term price and value of that stake will be substantially higher than the point at which they acquired their stake.
Many Tokens have seen a decline in the price level from the fall of Bitcoin, which allows long term holders to have an advantage over those who have short term positions in the market.
It is very difficult to determine the period which a bitcoin price retreat will come to an end, that’s is why it’s so important to carry out investments over a period of time rather than all at once, so you can be sure of being able to take advantage of the low price levels now but are also able to have advantage if the price level continues to decrease.
There are some serious price inefficiencies in the market right now, which has created a perfect environment for those who take long term positions and are able to maintain a long term outlook.
The main price level of any token is not that important at this moment in the market, for the sake that the market is still at its early period that the potential behind its growth is very huge not minding the specific price level.
How much potential for growth do many Graphene-based networks have?
To accumulate a very much stake as possible in the market you have to acquire a stake for a long term position, so a decreased price level presents an excellent opportunity to take advantage of the disproportional price declines compared to the decline in the tokens value.
Tokens like Bitshares, Steem, and peerplays have gone through some significant declines in price levels compared to just a few weeks ago, But then their practical use has not been affected in any way. The support that these projects lost is likely from traders and short term investors who exited their positions to protect their profits/losses,
but the support and momentum that these projects were able to regain is bound to return over the following months. Investors have proven that they have an increase in interest in the platforms that provide practical use cases, Graphene platforms, and networks achieve both of these aspects very well.
Graphene-based networks are capable of the highest throughput and activity level of any blockchain system in existence. As more businesses look to blockchain technology to solve real-world problems, platforms with the capability to efficiently handle the transaction and activity volumes that these applications demand are at an automatic advantage over those platforms that may have the same goals, but are simply not able to make them a reality.
Its virtually irrelevant to determine the specific price per token of a cryptocurrency, because of the wide fluctuation in the form of total supply among different networks. The total market capitalization of cryptocurrency is a much better indication of its market compared to the price level,
When we consider the potential market capitalization of a network the provides practical use cases to businesses and users, it becomes clear just how much room many networks have to grow. A 100 billion dollar market capitalization is totally realistic for a platform that achieves mainstream adoption, and that is more than 300 times the highest market capitalization of any Graphene-based tokens currently.
In conclusion, as I said above the best of it is working out in the market as a long term investor so you can be having some great advantage over some other traders in the market.