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Bitcoin reached a high of $20K last December, but plummeted in value this year, so could it go down to the lows of $3K? The CEO of the crypto exchange CoinMetro, said he dosen’t expect the Bitcoin to drop below $3,000 because the price is dependent on the cost of Bitcoin mining, and is only profitable down to around $3K. Mining cost money, so the large-scale miners won’t sell below that cost.
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I think that btc will definitely not fall below 3k, but the cost which has been floating close to 3200-3500 since mid-December is not encouraging, it is very close to the minimum mark.
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