According to senior market analyst, Mati Greenspan eToro, the current Hasrat bitcoin the lowest for the period since August of this year.
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Bitcoin hashrate is now the lowest it’s been since August. It’s still up sharply since the start of the year but it seems clear that some miners are shutting down their rigs in face of lower BTC prices.
It seems that the decline continues and clearly indicates that the miners will stop working or begin to mine other cryptocurrencies.
On average, mining a single bitcoin costs $6000 – $7000, depending on electricity prices. With the price of coins at $4500 work of miners unprofitable.
This can continue for some time, if we are talking about large-scale operations. Large farms mining, rather this provided for the anti-crisis measures in case of such periods as the present. But for small miners. the only logical solution.
However, some miners decided to switch the hash to Bitcoin Cash, trying to hasten the denouement of the battle between the camps ABC and SV.