The cost of electricity is $30,000 (shutdown price)
With a total network hashrate of 550E and an electricity cost of 0.38 RMB per kWh, the shutdown price is estimated based on the current mainstream T21 mining machine configuration. Historically, there has never been a situation where mainstream/flagship models were shut down at a relatively moderate electricity price.
Black Swan support at $48,000 (shutdown price * 160%)
Historically, all Black Swans have never occurred at a price lower than 160% of the electricity cost within this cycle. Therefore, based on the current electricity cost of 30,000 RMB per BTC, buying below 48,000 carries very low risk (but does not mean there is no unrealized loss in the account).
Cost support at $52,000
Based on an electricity cost of 0.38 RMB per kWh and a three-year lifespan of the T21, the BTC price matched with the daily electricity and mining machine cost. When the price falls below this level, the risk of buying one BTC in the secondary market is much lower than the risk of investing millions of dollars in mining.
Bear market support at $60,000
In most cases during a bear market, the market price fluctuates at around 200% of the shutdown price, which is around 60,000. From a medium to long-term investment perspective, this is a relatively good bottom.
