RATE Group | How Bitcoin Miners Are Not Causing The BTC Price Plunge
70392
post-template-default,single,single-post,postid-70392,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

How Bitcoin Miners Are Not Causing The BTC Price Plunge

30 Nov How Bitcoin Miners Are Not Causing The BTC Price Plunge

Posted at 05:03h in Bitcoin News by

[ad_1]

When bitcoin starts to turn south and the selloff intensifies, fingers start pointing. The crypto community wants to blame something and the mainstream media wants to sensationalize fearful headlines to get their clicks.

Bitcoin Miners Not to Blame

This latest slide has been blamed on China (again) and a miner capitulation but recent research reveals that the latter is not to blame. Bitcoin has had a little revival this week with an almost 14% recovery. That would sound good if it hadn’t already dumped over 20% in November.

We are clearly in a bear market and have been for the past five months. The term ‘miner capitulation’ refers to smaller mining outfits closing down when BTC prices are not high enough to cover their expenses. It happened during the crypto winter of late 2018 when bitcoin dumped below $3,200.

Recent research from Paradigma Capital refutes all the FUD that miners are capitulating, hash rate is plummeting, and reserves are being dumped. The report opens…

[ad_2]

Source link

Tags:
, , , , ,