Even if we are near bottom or in the despair stage. There's gonna be a period of accumulation and slow growth for all of 2019.
Can you miners survive these low to negative profitablity for another year at least? Most won't. I see miners are still too optimistic and haven't felt enough pain yet. Profitablity therefore will drop more and drag out for multiple years. I bet miners will not last that long and give up in 6 more months. Their dreams of Moon and lambos will be shatteter and recovery taking longer than they want like multiple years. Eth hash rate finally decreasing some but not enough yet to justify mining
This 100%.
Miners still need to feel the pain, too many are mining "at a loss", or at best breakeven, as they think the recovery is right around the corner and in 6 months we will be back at ATH. No, we will need the next year to find the true bottom and for the big boys to accumulate, and probably another year after that for prices to recover and start slowly climbing. This is basically the 2013-2016 playbook all over again.
I think the biggest problem most miners, and almost all traders, on here have is they are relatively small potatoes in the scheme of things. The big investors have plenty of capital and patience and they don't need the market to recover anytime soon to make their money. In fact they count on it to shake loose all those cheap coins from all the believers. Most of the believers or hodlers will need a good 2 years to shake loose the coins for them to lose faith and begin selling. Some of course will never sell, but the big boys know a lot of people will once their faith and beliefs in crypto's future have been shattered.
Anyway, as I said before to all those hanging on to mining equipment in the hope the recovery is just around the corner, you are better off unplugging your gear and selling off what you can than to wait it out. When mining does become profitable again, there will also be new equipment and GPUs that are a lot more efficient than your old gear, so even if you did keep it you would be at a disadvantage.