Yang Ning: Bitcoin is at risk of falling to zero, and mining is at the break-even point

Yang Ning, founder of Lebo Capital, said in a Node Finance Dialogue last night that the current mining cost is about $6,000, which means that when the price of Bitcoin is below $6,000, mining is a loss. The current price of Bitcoin is almost at the mining cost balance line.

Yang Ning believes that if Bitcoin does not rise to $12,000 in July 2020, mining will suffer serious losses at the current price. The direct result is that a large number of miners will give up mining, and Bitcoin is at risk of returning to zero.