Analyst: the Statement Signals Bitcoin Rise
The decline in the cryptocurrency markets since last week has concerned many investors. However, despite all these events, the price managed to hold above the $5,000 level. Tether’s sending 40 million USDT to Bitfinex played an important role in the realization of this.
Miners may be in a difficult situation.
In addition to all of these, F2Pool, one of the largest Bitcoin (BTC) mining pool enterprises in the world, stated that there will be a decrease in hash rate in the near future. F2Pool announced that the hash rate is coherent with BTC price. Although the hash rate drop is seen as a negative situation in terms of security, it can be a much higher source of income for miners. However, despite the price declining from $9,000 to $5,000, it caused a serious loss of confidence in the markets. According to some people, even a bankruptcy is a matter of question. Bitcoin miners are said to be unable to afford costs due to these low prices. Similarly, after the news of miners’ bankruptcy came to the fore in 2018, the price dropped sharply. Experienced analyst tweeted that this would be the opposite of the situation.
Light Crypto emphasized that the most important of the lessons taken from cryptocurrency transactions over the years will be the rise of Bitcoin when miners start bankruptcy statements. With this interpretation, he has instilled hope for the users. We will wait and see together how the crypto markets, experiencing turbulent days due to coronavirus, will react in the coming days. If you want to see more news content, you can follow our social media accounts or browse our news page.
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