$BTC #halving

THE CHANGE IN MENTALITY OF BITCOIN MINERS BEFORE Halving.

The way to deal with previous halvings became lessons to deal with the next reduction in the reward of mining Bitcoin.

The cycles established by the Bitcoin halving appear to be driving new dynamics and strategies in the Bitcoin mining industry. Although there are behavioral constants, especially in the last two cycles, there are large variables in the business models that companies have implemented.

What paralyzed growth for so many months? The short answer is the shortage of chip supplies, which became a crisis for different industries from that moment on and, to a large extent, until today.

However, the uncertainty that a series of regulations had generated in the Asian country, where the vast majority of mining companies were concentrated, contributed strongly. In other words, there was no point in connecting more equipment to the network when we all knew the possible outcome, which finally forced the miners to migrate to other countries.

Once freed from the power exercised by the Chinese government, many of these companies let themselves be carried away by an overconfidence, a blinding enthusiasm, that would lead them to make increasingly risky decisions in the places and jurisdictions where they took root, mainly in USA.