Sirwin
Sirwin

Bitcoin hashrate fell nearly 60% in two days, price drops

By al998 | Trading cryptos | 18 Apr 2021


 

Correlation between Bitcoin price and hashrate is very strong especially on the downside and once again this is confirmed. Hashrate dropped 60% and immediately Bitcoins suffers sending all the crypto market down.

From my point of view nothing to worry about, just a good day to increment my holdings once again.

It looks like there are electricity shortages in China due to old coal power plants which need to be fixed and that is why hashrate dropped, only a temporary issue it seems.

Also, as season is changing, chinese move their computational power from winter farms to summer ones where electricity costs are lower.

So my friends let's keep kicking the can, just another good day to up our investment!

keep safe anyway

Al998

 

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al998
al998

i come from the banking business, left back in 2015 after 20 years, 10 of which passed in the prop trading desk (arbitrage, long/short, stock futures etc.) to be an entrepeneur. Happy to have left. Since 2016 investor in cryptos.


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