What will happen if Bitcoin will be around $2,800?
Is only me who's scared about the bitcoin situation? I mean I am used that the prices are low these days, I have no problem with that, but what if miners will stop mining?
With Bitcoin at $2,800 I guess the mining profitability will be low or won't exist, and will mine only people who can afford to risk and to wait to make profit.
Is that true? I am not a miner myself just because I am not that tech guy and I prefer trading or earning bitcoin so I will need an answer from an experienced person in the mining field.
Should we be scared from this point of view?
Thanks a lot for reading my post, as always, @jwolf here!
Just look at the BCH situation they are mining with a huge loss.
Same will go for BTC at least for a while. If more and more miners drop out the difficultiy decreases as well afaik and to mine a btc will get cheaper and more people will jumo in again.
There is a video on "crypto loves" channel about this ( at least I think that was his name
I was thinking about the difficulty that will decrease but I was not sure, thanks man!