The year that passes 2018 has been the most difficult period and the most unexpected period for the people involved so far extraction cryptocurrency, Bitcoin in particular. Many had to stop and only the strongest players remained at stake. What does 2019 have for them?
It all started with a relatively stable price point and steady growth of mining complexity, exactly as it should have been. The farms and the mining pool prospered, and everyone was happy.
Then came the winter, bringing the price collapse and total chaos, driving a lot of miners unprepared by the marker. According to various reports and estimates, about 800 thousand miners and small mining companies have had to close since November 2018.
Sean Walsh, managing director of an important HyperBlock mining pool commented on the situation by saying:
"The prolonged crisis in encrypted prices is putting many crypto-miners out of business, which is why we tend to be a little cautious and protective when it comes to talking about our business.".
Judging by all the above facts, it would appear that 2019 would be a total flop for BTC miners. However, it is not really like that.
Firstly, and above all, the complexity of mining, being rather flexible, has started to adapt to current market conditions, eliminating the possible risks of the deadly spiral of Bitcoin.
Andreas Antonopoulos does not think Bitcoin is in a "spiral of death"
Secondly, there is still some hope that the prices of cryptocurrencies will recover in some way. In this case, the smaller miners will be able to return to activity, since during the current downward trend this is not an option for them.
Therefore, we can not predict what will happen with the extraction of BTC in 2019, since we can not predict how long the crypt will last and whether the market will recover completely. What we can say is that mining is becoming a daunting task, and only the strongest will be able to stay afloat.
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