🔍 How does the Bitcoin halving affect miners and the market

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🔍 How does the Bitcoin halving affect miners and the market? Here's what you need to know: The recent Bitcoin halving has put pressure on miners, leading to a decline in the hash rate. According to CryptoQuant, almost a month after the halving, evidence suggests that miners are beginning to give up. The 30-day moving average of the hash rate has dropped from its peak of 630 exahashes per second (EH/s) to 606 EH/s, indicating a decline in mining activity. This trend is attributed to miners becoming less efficient due to reduced reward rates post-halving. While larger mining companies are ordering new devices to strengthen their position, smaller miners are shutting down operations. This trend could lead to further declines in the hash rate, historically correlated with a negative impact on Bitcoin's price. Although the miner withdrawal hasn't immediately affected the price, historically, Bitcoin's price has declined in the days or weeks following a significant hash rate decrease. Stay tuned for potential buying opportunities as the market reacts to these changes! #Bitcoin #HalvingEffect #MarketAnalysis $BTC $ETH $BNB 📉🚀

🔍 How does the Bitcoin halving affect miners and the market? Here's what you need to know:
The recent Bitcoin halving has put pressure on miners, leading to a decline in the hash rate. According to CryptoQuant, almost a month after the halving, evidence suggests that miners are beginning to give up.
The 30-day moving average of the hash rate has dropped from its peak of 630 exahashes per second (EH/s) to 606 EH/s, indicating a decline in mining activity. This trend is attributed to miners becoming less efficient due to reduced reward rates post-halving.
While larger mining companies are ordering new devices to strengthen their position, smaller miners are shutting down operations. This trend could lead to further declines in the hash rate, historically correlated with a negative impact on Bitcoin's price.
Although the miner withdrawal hasn't immediately affected the price, historically, Bitcoin's price has declined in the days or weeks following a significant hash rate decrease.
Stay tuned for potential buying opportunities as the market reacts to these changes! #Bitcoin #HalvingEffect #MarketAnalysis  $BTC $ETH $BNB 📉🚀