I am wondering, once genuinely another crypto wins over the market acceptance when it comes to payments, what are the realistic chances of Bitcoin staying above $15,000, maintaining Bitcoin's mining profitability?
Bitcoin difficulty has grown 5 times since January.
In January price was around 1000$.
Simple math and you will understand that miners ill still make the same profit they were making in January even if Bitcoin drops to 6000$.
But since the price is 2.5 that it means it is a lot more profitable.
Remember that is not just 2.5 in profit, it's 2.5 in REVENUE with same costs.
So if in January you were making 100$ and spent 90$ on power , now you make 250$ and spend the same in power.
10>160.
But why do I bother explaining this to somebody claiming bitcoin is dead again?
At least I have the hope of somebody reading this and not starting another thread.