Bitcoin Miner Capitulation Could Set Price Bottom – Bitcoin Magazine


This is an opinion editorial by Zack Voell, a bitcoin mining and markets researcher.

Bitcoin miners often suffer the brunt of bear market woes thanks to some of the industry’s highest capital expenditures, smallest margins and most unreliable infrastructure. Although the current bearish phase has been one of Bitcoin’s shallowest drawdowns, miners have suffered more than ever.

Layoffs, bankruptcies, lawsuits and other negative press have battered one of Bitcoin’s most prominent sectors. But every bear market eventually finds a bottom — the pain climaxes and things slowly begin to recover. A variety of data suggest mining has reached this point of its market cycle, which could offer a bit of optimism going into the new year.

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