Bitcoin Mining Costs and Market Cycles Indicate Overhyped Prices

This seems to be some sort of mass hype. The average cost of mining one Bitcoin currently is around $80,000, not $135,000. With each cycle, during the bottom of the bear market (approximately winter of 2026-2027), the price of Bitcoin drops below the production cost by about 30% (approximately $50,000), although in winter 2019, the price fell by 40-50% relative to mining costs. The mining costs for computational power are not expected to double until the next halving (spring 2028).