Declining Cryptocurrency Mining Earnings Not Cause for Concern

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Declining Cryptocurrency Mining Earnings Not Cause for Concern

Mon Jun 18, 2018 2:48 pm

The year 2018 has been very interesting for the cryptocurrency industry. With all prices tumbling, it is evident a new paradigm looms on the horizon. For cryptocurrency miners, profits have declined sharply. This may effectively bring an end to the rising GPU prices, which have annoyed gaming enthusiasts all over the world.
Cryptocurrency Mining Earnings

There has always been substantial debate over how profitable cryptocurrency mining is. It all depends on the conditions users have to work with. The upfront investment, electricity costs, and prices of individual mined currencies are all contributing factors. It seems the current bearish market trend throughout 2018 has caused miners’ earnings to plummet dramatically.

While that is not a positive development, there is no immediate reason for concern. In most cases, miners will break even as long as the Bitcoin price remains above $3,300. This figure is for China due to their low energy costs, but the breakeven point is a good deal higher in other countries. Even so, the individual value of altcoins being mined may fluctuate sharply. Rest assured most users are still making a profit, albeit a lower one compared to late 2017.

The bigger question is how that situation will evolve. Lower profits may force some miners to rethink their mining operation. At the same time, there’s a realistic chance the value of Bitcoin and altcoins will surge in late 2018. Missing out on those potential profits is also something to take into consideration. Cryptocurrency markets tend to turn volatile quite regularly, and one always needs a long-term plan first and foremost. ... ned-about/

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