# Expect a BIG CRASH of Bitcoin in the coming months, maybe below 1K!

![mining.png](https://steemitimages.com/DQmWLVBwegG1dWci5CYiiNAHNdwfSSvPrDt3zv2m3XMrmZE/mining.png)

The Chart of Doom above shows the declining profitability of cloudmining, in this case with Genesis Mining SHA-256 Bitcoin. We already saw a huge crash in mid July 2017 and since the beginning of December 2017 we saw step-wise ever decreasing profits and they hit some kind of new bottom yesterday. When we connect upper and lower profits, we see a channel formed, that comes to an end somewhere between March and July of this year.

At this moment Bitcoin mining to be profitable needs a level of minimum 3000USD, because the mining difficulty as well as the number of miners increases all the time. This minimum will go up in the months to come and when Bitcoin falls back to let's say 5000USD in 2 or 3 months from now, it's GAME OVER with Bitcoin mining.

One mining contract after the other will become "unprofitable" and those who stepped in After April 2017 will be in loss. Those that bought "new" contracts, will see their mining contracts become "unprofitable" even before they have started mining and will loose everything they invested.

We will also see one Bitcoin mining farm after the other shut down, because they can no longer bear their maintenance costs. After this HUGE SHAKE OUT only a few Bitcoin mining farms will be left and these will be the only ones mining Bitcoin.

With 90% of the Mining farms out of business, the Bitcoin mining algorithm will be made easier and maybe some old and new ones will try again, but BIG TROUBLE is AHEAD for BITCOIN.

People may well loose their faith in the coin and flee into other cryptocurrencies and will buy Gold and Metals or return to Fiat and Stocks.

https://www.youtube.com/watch?v=eaRW2FYPTjM

# checkout this video from sunny decree on mining bitcoin