The Huge decline in the crypto market had miners dumping their GPUs on Ebay

in #ethereum7 years ago

I'm sure you've all noticed that GPU's have gotten more expensive due to demand. Not for gaming purposes but to mine cryptocurrencies. With the popularity of crypto growing mining has become a popular option for those looking to retain more crypto and a way to earn passive income.

As for gamers.... well they're pretty much left in the dark.

Ethereum, which has seen a great rise in price in 2017 and its mining difficulty increasing out of control has been one of the reason's behind the price increase of GPU's. With the recent price crash for cryptocurrency that came harder than expected had plenty of miners selling their GPU's and just trying to make a profit or at least cut losses short. With the resent selloff of GPU's not only did we see the difficulty loosen up a bit as shown in the image below, but gamers are actually hopeful that GPU's will climb back down in price.

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One thing to consider with all this is how fast will Ethereum's price rise VS the rise in difficulty for miners. Will Ethereum be worth $2,000 by May 2018 and what will the mining difficulty be then? Would it still be profitable?