Bitcoin has been in a situation of sustained decline for several months. It is true that it has gone through small phases of some stability, but it has always ended up being the prelude to an important collapse.
We do not speak without arguments. It happened when Bitcoin went from $ 20,000 to $ 10,000, a strip in which it seemed to be stabilized, but then ended up going down to $ 8,000, where it again became entrenched for a short period of time. History repeated itself in the range of 6,000 and 4,000 dollars.
According to JPMorgan Chase & Co analysts, the average cost to undermine a Bitcoin at the end of the fourth quarter of 2018 was $ 4,060 worldwide. Since a Bitcoin currently has an approximate value of $ 3,600 the conclusion is clear, it has ceased to be profitable.
However there are small exceptions. Experts believe that this fall leaves a scenario where there are winners and losers. The second are those who bought large quantities of mid-range and high-end equipment with the rise of cryptocurrency mining and who today cannot make it profitable and not sell it at a price that allows them to recover their investment, and the first are those that can undermine With low cost equipment in countries where the cost of electricity is very low.
China is the best example. According to analysts, Chinese miners establish direct energy purchase agreements with certain companies, such as aluminum smelters, which seek to give way to excess energy. Since this resource is the one that represents the greatest cost when mining cryptocurrencies, it is easy to understand the weight of these agreements.
In the best case, Chinese miners can obtain a Bitcoin with a total investment of about 2,400 dollars, a very good figure, since it leaves them with an average profit of 1,200 dollars. The situation is, however, complicated, since the fall of miners worldwide can continue to adversely affect the value of Bitcoin and reduce the profit margin gradually, to the point that it would not even be feasible to undermine it with these supply agreements of low cost electricity.