Bitcoin has fallen below the $20,000 level, and the current situation is negatively affecting Bitcoin mining as well as investors.
The cryptocurrency market is experiencing a historic collapse. BTC (Bitcoin), the flagship cryptocurrency, is experiencing a crash. In recent months, LUNA has been wiped off the market and the frightening decline in Bitcoin has caused great damage to many people. On the other hand, there is another negative effect of this collapse that is not so visible. The outlook for Bitcoin mining is no better.
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CryptoRank:” Bitcoin mining is now making a loss”
The golden era for Bitcoin seems to be over. In fact, BTC reached its highest level towards the end of last year, hitting $69,000. However, the markets have been facing a relentless collapse since then. BTC, which has fallen below $18,000 from time to time, is currently at $19,000.
Bitcoin piyasası ve Bitcoin madenciliği, tüm dünyada olduğu gibi ülkemizde de oldukça popüler. Ancak şu anda seyreden değerler, Bitcoin madenciliğini de olumsuz etkiliyor. Kripto para birimi analiz platformu CryptoRank’in verilerine göre, Bitcoin madenciliği artık karlı bir iş olmaktan çıktı.
According to the platform, people who are currently mining are now either making a loss or going unprofitable. Considering the electricity prices in our country, the danger bells for miners become even more evident. On the other hand, the free fall in the markets scares miners as much as investors.
Bitcoin Mining is now below the cost of production. While it is too early to talk about large-scale miners, sustainability for average and low miners is in danger of disappearing. On the other hand, the decrease in the number of mines due to the collapse is considered as an opportunity for the remaining miners in a possible upswing.
How do you assess Bitcoin’s collapse and how far do you think it will go? Please share your views with us in the comments section
