Will the recent market correction impact miner pricing?

[Jluyt123]

Hi all -

I have been wondering if the recent market correction will impact miner pricing in any way? What are your thoughts?

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[wavelengthsf]

Seeing as how the price is back to around $16k, doubtful

[fanatic26]

No it wont.

[stompix]

Hi all -

I have been wondering if the recent market correction will impact miner pricing in any way? What are your thoughts?

Why should a "correction" like that impact the price when:
- BTC went x20 times in value since the begging of the year (and is still 14x right now)
- Difficulty went up only 5 times.

Even at 10x , it's still 2x more profitable to mine that in January so...
The price will go up.
Oh wait... Bitmain already did it.

[tetradrachm]

When people are no longer willing to pay $2800 for a machine from Antminer then the price will go down. If you go on Ebay there are S9s listed for $6,000. Idk how many people are buying at those prices but if they are they are insane. Right now an S9 will pump out around $635 a month at .10 per KW/h. At $2,800 you're looking at an ROI (including the cost of power@ .10/KWh) of 4.5 months which is not too shabby. At $6,000 for an S9 you're looking at an ROI of nearly 9.5 months, assuming profitability stays the same which it wont.

Anyone who pays more than $3k for an S9 is asking to get burned in the long run IMO.

[alh]

I don't know exactly what correction you are referring to. One week fluctuations in BTC price will have zero impact on mining behavior and miner purchases. If BTC price were fall down to $5000, and stay there for 4-6 months, you could expect a reduction in miner pricing.  Unless and until that happens, I wouldn't be expecting a price reduction in miner pricing. Just my opinion for which you paid 0.0000 BTC .

The current speculative frenzy surrounding BTC price doesn't suggest that will be anytime soon.

[Kapz786]

Miner pricing is always determined by supply and demand and what people will pay at the time it goes on same. In nominal terms the latest correction in the bitcoin bull market rally is double previous falls, which means much greater nominal cash losses for those late to the speculative frenzy but it has entered a fully fledged bear-market correction. The sell-off has accelerated as the short-lived price premium seen in bitcoin futures tumbled, leaving the CME futures price in line with the bitcoin spot price. But putting the fall into perspective, the price has only retreated back to levels first hit on December 12, and it was still up about 1480 per cent over the past year.