Would bitcoin mining be still profitable if it's price falls?

[kaleemmalik]

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.

[ComeBack]

I suggest don't mine bitcoin now because alot of big companies and people mining it with high ends miner. Try to mine other new coins / tokens that you think will going to give you a good profit in the future. Bitcoin will still profitable as long you bought some of it on dipped 

[fallenangel1789]

I suggest don't mine bitcoin now because alot of big companies and people mining it with high ends miner. Try to mine other new coins / tokens that you think will going to give you a good profit in the future. Bitcoin will still profitable as long you bought some of it on dipped 

Totally agree mate. But in some countries it is still very profitable. Especially in Venezuela, Trinidad, Ukaraine, Taiwan etc.

[marksayson]

Best is to divert your funds for holding bitcoin and plan to sell it on the long run comparing to mining bitcoin as of now.

[sugarchrisp]

The price fluctuation doesn't necessarily matter for how valuable things are at the current moment in time.  The main thing that changes how valuable mining is is how many people are currently mining it and the difficulty to mine each block.  The price can affect it, but not nearly as much as more people mining it. 

[debra]

Mining bitcoin is currently difficult to do. Try to mine other coins like Bitcoin Cash because this alternative coin is a good coin. After the launch, the popularity of this coin was very interesting. And you can also try your luck by mining this coin.

[Zed0X]

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.

This one would depend on the miners situation like location, electricity cost, rigs, etc...

[Doctor]

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.

No, I think bitcoin mining is very ecpensive cost. In my opinion participate in bounty program is more profitable.

[zenbook]

Well In the current situation of bitcoin today I think mining is not much profitable due of continuously price fall and the consumption of electricity and some other maintenance will reduced your profit especially in some countries that have a hot weather and expensive electricity bills.

[DiZEL]

I'm sure that if the cost of bitcoin falls below $ 3000, mining will become unprofitable even in those places where free electricity is used and this will result in the outflow of miners and a further drop in value, down to the level of 2012-2013 years!

[DogeTalk]

I think mining when prices experience a decline is not good. very large cost to do coin mining. Many stop mining and choose to trade daily.

[rizqillah]

I think mining when prices experience a decline is not good. very large cost to do coin mining. Many stop mining and choose to trade daily.

Yes It is true mate. Mining is very large cost. We prefer to choose day trading and participate in bounty program.