Nobody knows what will happen.
The price can trade sideways for the next 12 months and it’s bad for miners since the difficulty will also keep going up. So our profits will keep going lower and lower.
Price can also go down which would make us make less money exponentially since hashrate is high while price is dropping.
Or ETH can go to something crazy like $10K and it’ll be a very profitable year like in the past. The difficulty will increase but so will the price.
This is true, only miners need to make the right decision. The growth of the Ethereum hash rate has stopped, and we do not know when the mining will end. The results of the first Ethereum 2 testnets will be announced in December 2021.
But newbies still buy graphics cards at high prices, as novice miners did in 2018.