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Simple Factors Show Bitcoin’s Hash Rate Will Continue Dropping; Here’s Why This is Bu

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#1
Bitcoin’s recent volatility did some severe technical damage to its market structure, and also led to mass capitulation amongst BTC miners, with the crypto’s decline from $10,500 to lows of $3,800 making it no longer profitable for many smaller mining operations.
Miner’s ongoing capitulation is illustrated while looking towards Bitcoin’s hash rate, which has seen a significant decline over the past three weeks.

The decline may be far from over, as a few simple factors seem to suggest that more miners may capitulate in the near-term.

Bulls, however, may be pleased to learn that there’s a strong chance that this decline in hash rate may ultimately be a positive thing for Bitcoin’s price, with the capitulation of smaller miners potentially alleviating some of the selling pressure on the crypto.

@TradeCryptoNow
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