Production costs: $ 14k probably the absolute minimum reason for bitcoin

The price of Bitcoin, according to most analysts in the market, is decidedly either ready to lose support and plunge into the bear market or climb to new heights – nothing in between.

Those on the lower side of the barrier are already calling for lows below $ 10,000, and others are suggesting a deeper drop than Black Thursday. However, a significant portion of the data shows that the absolute minimum price of BTC is about $ 14,000 per coin. That’s why.

Speculate On Crypto Correction And Potential Cycle Targets
Crypto traders are a selfish group. If they don’t post memes and share them online, they will post screenshots of their unrealized PNL calculated by millions of people and retrospective diagrams that enrich them.

As a speculative Sunday, participants often exhibit accurate speculation, predicting prices of hundreds of thousands of dollars per currency in the future, or descending to new lows.

Read More / Bitcoin Ready To Show Strength, But In Which Direction It Will Break

With extremes on both sides, it will instead be a target more immersed in reality. Bitcoin will not reach $ 400,000 or more this cycle and will not fall below $ 3,000.

In fact, using the story as a guide, the price of BTC should never again fall below $ 14,000.

Why $ 14,000 will be the basic level of Bitcoin price
. The$ 14,000 was the culmination of the last major upward momentum, peaking in June 2019. Bitcoin experienced a slump when it passed that resistance level at the end of 2020.

From that point on, the price of the coin more than quadrupled, but has now fallen as fast as it has reached new heights.

As for how far the leading cryptocurrency can fall on the market cap, the lowest point should not exceed $ 14,000 for fundamental reasons. The production cost of each coin is currently around that price for most miners, and about $ 22,000.

BTC basic minimum price visualized / source: BTCUSD at TRADINGVIE

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