NY Post: "Price of bitcoin falls below cost to mine"

By in
NY Post: "Price of bitcoin falls below cost to mine"

Excerpt from the New York Post quoting DataTrek’s Nick Colas:

…. “Offering a somewhat less bleak prognosis is Nick Colas, co-founder of DataTrek Research.

“I’ve had a lot more questions about Bitcoin in the last 30 days and I tell people I don’t think we’re at the bottom yet,“ he says. “We’re in what I call a ‘technological winter.’ It’s like what happened in the Nasdaq bubble. There was a recovery but it took many years.”

At the same time, Colas says he is definitely not expecting the blockchain system itself to shut down any time soon. “A lot of miners definitely are losing money but there’s still miners that can make money,“ he maintains…..

Read the full article here in the New York Post!