Important support levels for BTC from a mining perspective

Author: BTC Old Miner, Source: Author's Twitter @BtcOldminer

1. Electricity cost $30,000 (shutdown price)

Based on the total network computing power of 550E, 0.38 yuan/kWh, and the current market mainstream mining machine T21 configuration as a reference, the shutdown price has not appeared in the market where the mainstream/flagship models were shut down at a relatively moderate electricity price.

2. Black Swan Support $48,000 (shutdown price * 160%)

All black swans in history have never appeared in the market where the electricity cost is lower than 160% of the current cycle. Therefore, based on the current electricity cost of 1 BTC of 30,000, the risk of buying below 48,000 is extremely low (but it does not mean that the account has no floating loss).

3. Cost support $52,000

With an electricity cost of 0.38 yuan/kWh and a three-year operating life of T21, the BTC price matched by the daily electricity + mining machine cost, when it is lower than this price, basically the risk of buying a BTC in the secondary market is much lower than the risk of miners who start with an investment of tens of millions of yuan

4. Bear market support $60,000

In most cases in a bear market, the market price fluctuates around 200% of the shutdown price, which is around 60,000. For medium and long-term investment, it is a relatively good bottom.