Profitable mining — confirmation of a bull market?
Bitcoin mining break-even is $ 3,550. The last six months, miners had a hard time. The price of cryptocurrency fluctuated on the verge of a foul. Now, when it has risen to 5300 in the main cryptocurrency markets, the miners have once again intensified.
We must admit, albeit not willingly, but the miners supported Bitcoin at a loss throughout the 16 months. bear market. The fact is that investments in equipment and forward electricity tariffs made it useless to shut down mining farms, although they did not generate revenue.
Thereby, the bitcoin blockchain has survived hard times and we sincerely appreciate everyone who has supported cryptocurrency. Now, when the bitcoin mining process brings profit a lot more interested in making money will get into the cryptocurrency sphere. Especially, considering the fact that until May of 2020 the reward for the mined block is not reduced by a half.
E-CHAT Team Opinion
We cannot state that mining profitability demonstrates the end of bitcoins' price correction. But, taking into consideration mining being a key element of blockchain stability taking part in the cryptocurrency healthy ecosystem creation, its profitability is a good sign not only for bitcoin but for all cryptocurrencies as well!