![]() Cryptocurrency is said to currently be (or has been) in an overall fall in the broad market dynamic, popularly known as a bearish trend, which has even been called the “ crypto winter.” Due to the huge cryptocurrency correlation to Bitcoin the whole market was hit by a 65% decline for the first half of 2018 year, which in turn seriously alarmed both the potential and current investors. ![]() By the beginning of February, a single BTC was worth less than $7,000. However, in the beginning of 2018, something (not quite so) unforeseen happened - Bitcoin’s value dropped dramatically. The community stated positive forecasts for Bitcoin’s growth, boosting interest around the mining process and the possibility of wide technological recognition. In December 2017, the cost of Bitcoin went over the $20,000 mark, due to sustained strength, growing interest, and wide media coverage. The external key factor that determines crypto mining profitability is the sentiment of the crypto market, which happens to be led by Bitcoin. When an individual miner or a group of miners manages to find a new block, they receive a reward for the work done - a certain amount of cryptocurrency of the respective blockchain, which is BTC in this case. The Bitcoin mining process is essentially generating new blocks in a blockchain and recording the transactions that take place within that blockchain. ![]() The market is bearish, but signs look positive Will the above mentioned opportunities bring the desired yield? Let’s dive in and find out. The idea is to finally find out whether miners have to care about the market and their position in general. Together, we will consider the profitability of mining in the current conditions, as well as the yields of mining and speculation for Bitcoin, taking into account the trends of the coming year.
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