矿工困境

🌪️ Bitcoin hash rate plummeted, miners panic selling? Is a market rebound in sight? 🌪️

Let’s pay attention to the news about Bitcoin’s computing power. Does the recent plunge in computing power remind you of the bear market in December 2022? At that time, FTX went bankrupt, the price of Bitcoin fell to less than $20,000, and miners panicked and sold.

Through observation of historical data, every major drop in Bitcoin’s computing power seems to be related to a large-scale sell-off by miners. Now, from May to July 2024, we are again witnessing a significant decline in hashrate, which coincides with the decline in hashrate at the end of 2022 when FTX went bankrupt.

Currently, Bitcoin's computing power is experiencing a similar plunge, which makes people wonder: Is the decline in computing power related to the halving of miners' income after the halving?

Some analysts believe that after the Bitcoin halving, the income of miners will be directly halved. If the price of Bitcoin fails to double, their profits will be affected. The current price of Bitcoin is around 60,000, but compared with before the halving, the income of many miners has been significantly reduced, but the expenses have not been reduced, which has led to some poorly managed miners facing the edge of bankruptcy. Therefore, these miners will choose to shut down their mining machines or even sell their Bitcoins, which is also the main reason for the decline in computing power.

But this is also the process of market self-adjustment. Only cleaning out those miners who are not operating well will actually be a good thing for the long-term development of Bitcoin. Because experienced miners will retain some working capital to survive this decline. Only when the market washes away these miners will Bitcoin be able to go to a higher place.

So, let’s pay close attention to market dynamics to see if this plunge in Bitcoin’s computing power will be the starting point for the next round of rise. The market is always full of surprises, let’s wait and see if Bitcoin can usher in a strong rebound!

#比特币 #算力暴跌 #矿工困境 #市场反弹 #加密货币动态

News: 🇨🇦 Canadian#Bitcoin⛏️ mining company Hut 8 signed an agreement on July 9 to build a 205-megawatt power plant in West Texas to expand its operations.
Big miners are constantly developing, while small miners are dying and trying to sell... I firmly believe that BTC will create a new space in the future! #BTC下跌分析 #美国6月CPI大幅降温 #美联储何时降息？ #美国大选如何影响加密产业？ #矿工困境 $BTC $ETH

$BTC

Miners are not surrendering❓

Even if the price falls, the profits of listed mining companies in June are higher than in May.

Only small miners are having a hard time, and the mining industry will be monopolized by large groups slowly.

Individual miners or small mining companies are really having a hard time. The people who used to be at the top of the pyramid in the currency circle will also be slowly eliminated by the times, but it doesn’t matter, these people have already made a lot of money.

These listed mining companies have sufficient funds, the highest-capacity mining machines, cheaper electricity resources, and better legal teams to avoid legal risks, instead of facing legal risks at any time like individuals.

These giants not only enter the mining companies, but also actively deploy in the spot market. In the future, the $BTC in the hands of retail investors will only become less and less. Cherish the big pie in your hands.

Some people say that the price of big pie is too high and they don’t want to buy it. Look at the stock of Buffett’s company, which is 620,000 US dollars per share, which is ten times different. The market value of the entire company is similar to that of Bitcoin.

Missed the demolition of the second generation, missed the second generation of housing, I hope your son can become a second generation of currency in the future😃

#德国政府转移比特币
#Mt.Gox将启动偿还计划
#矿工困境