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The capitulation of miners sparks optimism.


Dec 7, 2022 , ,
Капитуляция биткоин-майнеров вызывает оптимизм в отношении дна рынка

The largest token has fallen by about 75% from its all-time high.

Crypto aficionados are encouraged by the signal that bitcoin miners are sending out, which signals that they have reached the point of capitulation and that the collapse of the digital asset market is about to bottom out.

The mining difficulty has decreased by 7.3% over the last two weeks, which is the largest decrease since July 2021, when China outlawed mining.

Every day, miners mint about 900 coins.

About 900 coins are produced every day by miners who compete to solve math problems to win incentives for processing transactions on the blockchain.

Along with the significant decrease in bitcoin’s price, energy costs have also had an impact on miners’ profitability, and more computing power on the bitcoin network results in a smaller token payout for miners, who are among the most ardent bitcoin owners.

Even though selling pressure may not be as significant as a market signal, Matthew Kimmell, a digital asset analyst at CoinShares, claims that their bitcoin sales can provide insight into the state of the market.


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