A system for monitoring a bit condition in a drilling operation comprises a processor unit and a non-transitory computer-readable memory communicatively coupled to the processing unit and comprising computer-readable program instructions executable by the processing unit for: obtaining signals representative of at least vibrations of a drilling mast having at least one bit during a drilling operation; interpreting the signals into vibration values; continuously monitoring the vibration values in real time; and assessing and outputting a condition of the bit as a function of the continuous monitoring of the vibration values.