Mining Those Cheap Bitcoins!
During the last cryptocurrency bear market, many of the flagship mining pools that now dominate the industry began setting up shop. This proved to be a smart move, as the price began to appreciate in 2016.
Mining in a downtrend, which bottomed out in the $200-$300 region, meant that early-bird miners made over 100x on their holdings, despite mining Bitcoin in a downward cycle and at a loss for well over a year. The term for this is “mining at a loss.”
It seems history is repeating. With a market correction of at least 70% across the markets, long-term thinkers are committing their resources to mining digital assets. The process of mining is expensive, time consuming, and requires a great deal of technical competence.
Find out more here https://crushthestreet.com/articles/digital-currencies/people-mining-bitcoin-before
