ETH bellow $1000 today...
Waiting for the difficulty of it,the Ethereum network to adjust to it,or said in other words,seeing a lot of people shutting down their operation while the others who will continue to mine at a loss maybe,will keep collecting more and more of the coin they receive the payout from mining.So far it is not materializing but I think it will do in the next couple of days.Difficulty still well above that 13.5 P but I am sure we will see that below 12 or even further below that which will make the people who continue mining getting generous mining rewards daily.
That is my comment for Eth below 1000
. I do not think that miners will immediately turn off their mining farms, because there are 3-4 months left until the end of mining. For example, I will wait for this event and I will mine, maybe it will be delayed until next year.
I am talking about the big farms not small operators like us who only have GPU mining rigs,those huge farms with expensive electricity cannot afford to continue mining at a loss,not all of them but some of them,if those farms are shut down then it is only normal that difficulty to come down dramatically.So far it is not happening and I am amazed seeing it well over 14 P right now but I know that after a couple of days in bear market when price of Ethereum to reach even lower then the difficulty will be down.It will take some time to adjust but I am sure it will eventually and that is great for the miners who will stay online.That is my point.