I say we will see a long sideways move before finding that bottom... we have already seen companies turning off cloud mining contracts but do they shut down the machines? I think not so it will require as you said for some of those major players to close shop before we see a correction.... we may very well see a shift away from BTC dominance prior to the next bull run
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Its a shame most of the break even prices were said to be around $8k globally. Now finding out the largest miner's breakeven price is a lot cheaper than that.
Yea I have been wondering about the comparison between BTC and BCH same group of miners can do either so will the switch play into the problem or defeat the problem... giant balancing act and I feel as if many larger players are wising up to control markets stopping they bull run mentality in its tracks realizing the potential for capital gains by having competition get flushed out through the lull
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They may switch but likely neither would be profitable if the prices keep dropping.
True that, yet I don’t see a complete crash anywhere in the near future with so many options for movement and with last year’s big bump some must be using those profits in preparation to endure... I’m still bullish been buying and investing in STEEM the whole way down after riding it up and taking profits myself
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