My opinion……..

12.5 x 19,000= ~$238,000

6.25 x 69,500= ~$434,000

3.125 x (y)= $634,000

Y= ~$203,000

Block subsidy minus fees at all time highs in previous cycles………….

This is a direct result of the step up basis that occurs with halving……..

Mining taught me this………

No guarantees, but it would surprise me if this value doesn’t go way up………