I do mining with the Rx 470 ten cards for ethereum. I do not want the price to bump very soon because people move from ethereum mining will come again here. With the 10 cards I cannot make out big hashes and compete with them mate.
Hopefully you will find the bitcoin price alone at least go bigger in the market with in some months for sure.
So far I have mined around 3.4 ETH in 4 months time. Looking for more profit in future so hodling it mate.
And this is what other small miners are doing. Those who can afford to hold are holding which limits the amount of new coins being sold on exchanges. Supply reduction usually means increasing prices (as long as the demand doesn't fall in an even greater rate). I'm pretty sure once this crypto winter is over all coins will go back up, even shitty ones like XRP
It's not only the power cost and the hashpower that you have because our hashpower came at a price. You had to buy your miners at some point and at that point you had to calculate your ROI. If the price falls below that range you will always be at a loss.
There are many things that influence your profits but the most important are: price of the coin, value of your hardware, power cost and mining difficulty.
You're right, we shouldn't care about their profits, but the prices going below their profitability is usually a bad sign. It happened before and ended up with the price going down for 2 years to reach levels from mid 2013 in 2015.