Pietro
Wed Jul 10 2024
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6 answers
1359
Are bitcoin miners 'full-scale bear market level capitulating'?
With the recent fluctuations in the cryptocurrency market, particularly the downward trend observed in Bitcoin prices, the question arises: are Bitcoin miners "full-scale bear market level capitulating?" The term "capitulating" suggests a complete surrender, where miners, who are fundamental to the Bitcoin network's security and functionality, are abandoning their operations due to the lack of profitability. Is this indeed the case? Or are we witnessing a temporary dip in the market, where miners remain resilient and continue to contribute to the network's health? Understanding the current sentiment among miners and analyzing the long-term implications of their actions is crucial in assessing the true state of the Bitcoin market.
