OMG, it looks horrible in the crypto market. And after yesterday's close, Bitcoin had dropped 10% to end the day at just below $ 8,000. The downward trend continued. And many are wondering what's next with Bitcoin?
At the same time, F2Pool, the operator of mining pools, tweeted that the latest price campaigns will put pressure on older ASIC operators of mining farms.
According to F2Pool, based on current estimates for older S9 Antminers, the break-even point is dangerously close to the current Bitcoin price. So if there is another collapse, operators of older mining equipment will have no choice but to shut down.
The Financial Advisor Magazine reported last week that large Chinese mining companies are unable to meet the demand for newer facilities due to factory closings.
Above all, the mining sector will do a major overhaul of the assets in just over 60 days after Bitcoin Halving.
THE UPCOMING HALVING MAY INCREASE THE RISK OF LESS PROFITABILITY OF THE MINING AND A SIMULTANEOUS RISE IN THE HASH RATE.
If prices remain the same or worsen, mining will only become profitable for large operators using the latest ASIC equipment.
If you prefer buying Bitcoins instead of mining them, I recommend Coinbase to buy and manage your Bitcoins (BTC).
I hope I could provide you with some new and useful information.
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