As long as people are still mining bitcoins at $1,567 a pop, then they can still make some good profits.
https://bitcoinexchangeguide.com/canadas-bitfarms-bitcoin-mining-company/
Ok, that is just the electricity cost and they have some other cost too, but it shows that it is still profitable for them to do it.
That's only to break even with the electricity cost you forgot to include hardware costs. https://bitcoinexchangeguide.com/canadas-bitfarms-bitcoin-mining-company/
Ok, that is just the electricity cost and they have some other cost too, but it shows that it is still profitable for them to do it.
Bitcoin mining is indeed profitable up to this date but not for all miners because of the increasing difficulty.
I do not think the miners will be able to keep supporting bitcoin mining if the price goes below 6000$.
Do you think this is an organic rise in bitcoin value and is it likely to remain within the ranges of 7000$ without dropping? Share your emotions and opinions guys!
If the price does go down to $5k or $4k the miners will still be able to support Bitcoin mining. I did my own calculation on coinwarz to see how low can the price go down for Bitcoin mining to become unprofitable after a few minutes of searching for important numbers I ended up with a rough estimate of $3,000. I don't think we'll see Bitcoin's price go this low anytime soon because of how fast the price can recover. Do you think this is an organic rise in bitcoin value and is it likely to remain within the ranges of 7000$ without dropping? Share your emotions and opinions guys!