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 often suffer the brunt of bear market woes thanks to some of the industry’s highest capital expenditures, smallest margins and most unreliable infrastructure. Although the current bearish phase has been one of Bitcoin’s shallowest drawdowns, miners have suffered more than ever.

Layoffs, bankruptcies, lawsuits and other negative press have battered one of Bitcoin’s most prominent sectors. But every bear market eventually finds a bottom — the pain climaxes and things slowly begin to recover. A variety of data suggest mining has reached this point of its market cycle, which could offer a bit of optimism going into the new year.




#Bitcoin #Miner #Capitulation #Set #Price #Bottom #Bitcoin #Magazine

mrB

Related Posts

US Government Secretly Cracking Down On Crypto?

The crypto industry is facing increased regulatory pressure since the beginning of the year, which has sparked discussion on Twitter about whether the U.S. government is secretly…

How Inscriptions Impact Bitcoin Block Space

The below is an excerpt from a recent edition of Bitcoin Magazine PRO, Bitcoin Magazine’s premium markets newsletter. To be among the first to receive these insights…

Cloud mining firm BitFuFu postpones merger with SPAC until May

Cloud mining firm Bitfufu, one of Bitmain’s crypto firms, is delaying for the second time its plans to go public via a special-purpose acquisition company (SPAC), according…

Hut 8 merger would’ve happened even without FTX or crypto turmoil, says CEO

Crypto exchange FTX’s collapse and overall crypto market turmoil were not key factors in the decision to merge crypto mining firm Hut 8 with US Bitcoin Corp.,…

Crypto lender SALT makes comeback with $64.4 million funding

The crypto winter and FTX collapse has decimated the ranks of cryptocurrency lenders. Genesis, BlockFi, Voyageur Digital and Celsius Network all filed for bankruptcy in the past…

US banking giant BNY Mellon says digital assets are ‘here to stay’

Michael Demissie, the head of digital assets at Bank of New York Mellon (BNY Mellon) is adamant that the cryptocurrency market fall in 2022 won’t waver institutional…

Leave a Reply

Your email address will not be published. Required fields are marked *