Yes its true that in a bear market there are less people mining so the difficulty is lower however the price is also lower and most likely unless you got free power, you will be mining at a loss. So even though you can get more sats during a bear market, chances are you are just better off buying it directly rather than mining at a loss.
There are people who mined at a loss for entire 2018 and 2019 and they haven't sold anything until ETH reached ATH again and they made a killing pretty much. However most miners won't do that because they are more concerned with the short term profit rather the long term profits.
Topic: Bear market mining - page 2. (Read 315 times)
Bear market looks like a bad news for miner out there but not for me there are few things that makes bear market an awesome season for miners and investors combined
1. You get more SATS at cheaper price
2. Mining difficulty decreased alot, more room to get more SATS from whatever coins you are mining
1. You get more SATS at cheaper price
2. Mining difficulty decreased alot, more room to get more SATS from whatever coins you are mining
This is a bull market for miners and almost a bear market for traders.
I make the same cash value for my btc mined
I make more btc each day
Then I did when coin was 64k
That is not a bear.
Now If I was holding say 1 btc at 64 k it is worth only 34k that is bearish
you need to separate that. So for me I am half bull /my mine and half bear my holdings
I cash all my
LTC
Doge
Eth that I mine
I hodl my BTC
so far it is working. I hope this lasts till Jan or Feb 2022
Its the best time to mine if you can sustain it. Money is made during the bear cycle not bull.
It's a shame that some countries out there have high electricity bill which unfortunately will make miners quit mining once bear market starts, I'm glad I invested on solar panels to atleast get 2000 watts of power once sun 🌞 is up
Bear market looks like a bad news for miner out there but not for me there are few things that makes bear market an awesome season for miners and investors combined
1. You get more SATS at cheaper price
2. Mining difficulty decreased alot, more room to get more SATS from whatever coins you are mining
1. You get more SATS at cheaper price
2. Mining difficulty decreased alot, more room to get more SATS from whatever coins you are mining
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