One of the world's largest financial holdings, JPMorgan has lowered its estimate of the cost of production of the Bitcoin cryptocurrency after a recent revision of the methodology of the Cambridge Electricity Consumption Index for Bitcoin (CBECI).
Accordingly, changes in electricity prices will now have less impact on the cost of Bitcoin mining, analysts say.
Also, the future decline in the price of Bitcoin will halve the reward that miners receive, and any changes in the cost of electricity will have a greater impact on their overall costs, making cost management even more important for miners.
I remind you:
Bitcoin continues to fall in price…
But I think it's temporary📉.
