Hi this is my doubt about costs related to bitcoin mining.As we all know that the difficulty as well as the cost for bitcoin mining is increasing continuously,suppose now the price is around 6,400 dollars and if this goes down a little to 5,000 dollars and if it continues for a period of six months,then would it be profitable for people or companies who mine bitcoins and if they were in a loss,would they be able to continue mining with a hope that bitcoin price would increase and they could recover their losses.And would it affect bitcoin mining in future?
Your views are most welcome.
What I personally think about bitcoin is that we all should know that bitcoin is a volatile crypto currency and moreover a kind of investment so the rate flactuation is very very common in the bitcoin investment and this doesn’t prove that bitcoin is a scam ora bubble only if its valuation is deflating , ups and downs, pumps are dumps are very common rule of every investment and so is applicable for bitcoin also but it doesn’t mean that bitcoin mining would not be profitable if its valuation is low.