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Bitcoin Miner Capitulation Could Set Price Bottom – Bitcoin Magazine

This is an opinion editorial by Zack Voell, a bitcoin mining and markets researcher.

Bitcoin miners usually undergo the brunt of bear market woes thanks to among the trade’s highest capital expenditures, smallest margins and most unreliable infrastructure. Although the present bearish part has been certainly one of Bitcoin’s shallowest drawdowns, miners have suffered greater than ever.

Layoffs, bankruptcies, lawsuits and different unfavorable press have battered certainly one of Bitcoin’s most outstanding sectors. But each bear market ultimately finds a backside — the ache climaxes and issues slowly start to get better. Quite a lot of information recommend mining has reached this level of its market cycle, which might provide a little bit of optimism going into the brand new 12 months.


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