Crypto mining still profitable in the long-term, expert says
Steve Bassi said that a long-term holder may do well mining in the short run and then selling when the block reward goes down in 2024. From the great migration to the bear market, crypto miners went through many challenges throughout the year including a shift in profitability. However, according to Steve Bassi, an expert in Bitcoin (BTC) and Ether (ETH) mining, crypto mining may still be profitable if we look at its long-term prospects. As the costs of application-specific integrated circuit (ASIC) miners hover around $8,000 to $12,000, and electricity costs take up more than half of the....
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All markets are cyclical, and the cryptocurrency markets are no different. At the height of the crypto bubble in 2017, everyone wanted to get into Bitcoin. People scrambled to buy the asset and altcoins on exchanges like CoinEx, while others took the mining approach by contributing to the underlying blockchain network. But as the bullish cycle ended, crypto mining became less profitable, and services like cloud mining disappeared. However, mining digital assets have become profitable […]
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Time is ticking as Bitcoin's mining difficulty increases endlessly, as miners of all types dash to purchase the latest mining hardware. But is this all still profitable for the average miner? As the difficulty approaches 1,500,000,000, many miners are left in the dust. Cloud mining, such as cex.io, will never break even at all, making a maximum of 0.02 BTC, with hopes of reselling it back into the market, hopeless. Altcoins, the land of pumps, and dumps. As new altcoins popup every single day, should miners turn away from Bitcoin, leaving behind their ASICs and begin mining scrypt coins?....
Ethereum’s price continues its downward movement. The price has reached an important long-term resistance line. There is a probability of a change of trends. Ethereum is currently in a zone, which is profitable for purchase deals within the long-term trend. That’s why there is a chance of a new upward rebound. For a more confident signal, Ethereum’s price has to break the medium-term downward trend. The level of $7.5 will be a critical point for a rebound. If the bears don’t hold the advantage at that level, a fortification and a turn are likely to follow. The minimal target will be at....
While bitcoin prices have slid in value and the high network difficulty, the leading crypto asset is still quite profitable to mine according to current data. Despite the profitability, these days there are only a few manufacturers producing application-specific integrated circuit (ASIC) machines. Microbt, Bitmain Sell the Most Profitable Bitcoin Miners on the Market, But Product Is Sold Out Across the Board Bitcoin (BTC) prices have seen some significant losses during the past two weeks but network participants, particularly bitcoin miners, continue to support the cryptocurrency network.....