Why does the shutdown price of mining machines mean the bottom?
#矿机到了关机价格 #BTC走势分析
Because miners have cost pressure, when the price of Bitcoin is lower than the production cost of miners, miners may be forced to shut down mining machines, reducing the selling pressure in the market, and as mining machines are shut down, the network hash rate (computing power) decreases, and the supply of Bitcoin decreases, which may drive a strong rebound in prices.
Now the market sentiment is extremely pessimistic, and the shutdown of miners is usually accompanied by extremely pessimistic market sentiment, which is usually the bottom of the market
ps:
The arrival of the shutdown price of Bitcoin mining machines is an important market signal, but it cannot be relied on alone to judge the bottom of the market. Combined with other market indicators and the macroeconomic environment, it is possible to more comprehensively assess whether the market is really close to the bottom.
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