Bitcoin Mining profitability hit by crypto price downturn

A leading analyst has weighed in on the current state of the cryptocurrency market, specifically highlighting the profitability of bitcoin mining. In recent times, the price of cryptocurrencies has experienced a sharp decline, with bitcoin being no exception.

The analyst believes that this downward trend is affecting the viability of bitcoin mining, making it no longer profitable for operators in the industry. The significant drop in prices has led to increased operational costs and decreased revenue, causing concerns among investors and miners alike.

While there are varying opinions on the long-term prospects of the cryptocurrency market, this analyst's assessment suggests that the current decline may persist unless the market experiences a substantial rebound.