The cryptocurrency prices went down extremely fast (approximately 150%). People were saying that it was just a bubble for a short period of time. And that was true, cryptocurrencies market cap went very low causing problems for individuals and for agencies. With prices being so low, it is almost impossible to make any profit in some countries, where’s the electricity cost more than 0.15 cent per kW. So, what does it really mean for the crypto market? Well, the mining difficulty is going down because more and more people are stopping with mining. The mining difficulty is a measure of how difficult it is to find a hash below a given target. But there are positive things about it going down. You will be able to earn more money in a shorter time.
Is mining ever going to be the same as end 2017?
Well, no one can predict the future, but if you take the charts and make some calculations, you will see that it still has a very big potential to boom again. The cryptocurrency is still in very early stage. The developers are trying to develop the perfect solutions for our daily lives. When the cryptocurrency will reach its maximum potential, it will rock like never before. The top price of the Bitcoin end December 2017 was almost 20 000 USD. The community and market were going like crazy. Everyone started investing and buying like never before. That is a good example what can happen when the coin will reach its full potential at the last stage of development.
What should I do now? Sell or keep the coins?
It depends on your financial situation. You probably spend thousands of dollars/euros on the hardware. And you want to earn your investment back as fast as possible probably. This is normal BUT if you sell now all your mined coins you will earn almost nothing back because you still need to pay the electricity bill. So, at the end, you will be left with nothing. So, you will ask me probably, what should I do? The real answer is to wait (HODL). Wait until the cryptocurrency market will get back to its normal state. Wait until the prices go up and then you can sell with some profit in your wallet. Be patient and good things will happen eventually.