After each Bitcoin halving, it is an opportunity for the miners to eat the small fish.

The big miners hope to clear out all the small miners, and after the halving, the difficulty of Bitcoin output will double, and the small miners will experience a very long period of running-in and adaptation.

As long as it is a mining machine, the big miners can have the most advanced mining machines, while the small miners often do not have the funds and resources to update the mining machines, so their current costs are higher than the current Bitcoin price.

The most advanced Antminer can even cost about 45,000 now.

So now the small miners have to shut down and sell the equipment to the big miners at a low price. The big miners can pick up the bargain at a low price and then use their own resources to upgrade the mining machines.

The small miners also sold Bitcoin while fleeing.

In the falling cycle, miners and Mentougou formed a vicious cycle. The more Mentougou sold pressure, the more small miners had to sell Bitcoin to maintain operations.

If they can't maintain it, they also need to sell Bitcoin for property liquidation.

So, this world is really cruel.

Finally, I hope everyone will keep their confidence in cryptocurrencies. Institutions have already started to make moves, and El Salvador still insists on buying one Bitcoin every day.

There are also many bears in the market. Their bearishness is often bearish on short-term prices, and they are consistent in their long-term bullishness.