without delving too deep into economics
if the cheapest mining(method of acquiring) on the planet was $15k
(wholesale/bulk price of hardware, plus cheap electric)
and if the most inefficient mining (retail price hardware and most expensive electric) was say $110k to mine bitcoin
then no one will want to sell below the minimum and no one would want to mine at the maximum
and so inbetween these maxis is where the market moves
yep right now in hawaii, japan it costs $110k to mine in someones home. as a hobby miner. so they are extremely happy to buy bitcoin at prices below this top. very very happy right now at $24k current price
there are some miners mining at the bottom thus happy to sell for $24k
but here is the thing
back in 2010-11 the scale of the maxis was 100x ($0.30-$30)
in 2016-17 the scale of the maxis was ~45x ($450-$20k)
in 2020-21 the scale of the maxis was ~18x ($4k $75k)
where by the market moves SOMEWHERE between these
thus can be even less volatile then the maxis
[...]
These are some very interesting metrics. Where did you get these numbers?
I wonder if it's even possible to come up with exact numbers, since, as soon as new ASIC hardware hits, the older ones get devalued either comepletely (not profitable anymore with the increase of difficulty and energy expenses) or to some extent.
You never know exactly when and which new hardware will come out, so calculating the exact costs to mine 1.0 BTC seems impossible to me. You can estimate and ofc calculate for past periods of mining.
Anyway, please share your source.
@OP: I think you questions were already answered well, have fun on your Bitcoin journey.
Try Andreas Antonopoulos (on youtube) if you want to dive deeper.