Bitcoin: Miners suffer losses when
According to Securitize Capital, there are already mining companies whose token production costs exceed $20,000. In addition to infrastructure and associated energy costs, this is also due to rising interest rates around the world.
Thus, interested companies are forced to sell BTC from their stocks to resist cost pressures. This naturally increases the supply on cryptocurrency exchanges, and according to JPMorgan Chase & Co (NYSE:JPM), downward pressure will persist in the third quarter of 2022.
However, Bloomberg reported, referring to the investment company Arcane Crypto, that the value of bitcoins from large mining companies is only $ 8000.
Brands of Bitcoin Technical Courses
Bitcoin's daily fluctuation margin has shrunk in recent days, while a 23.6% Fibo correction of $21,110 is constantly being tested.
There was a daily close above this important level, but this did not bring relief among investors in the direction of the next resistance in the form of a 38.2 percent Fibo pullback of $23.263.
Instead, the price fell, formed a bearish hammer and closed at 23.6% Fibo. Thus, the side of this area where the closing price of the day is located will be crucial for further developments.
Until there is a noticeable breakout in either direction, trading ranges will continue at $21,100.