Active discussion of the possible capitulation of miners against the backdrop of a decline in the price of Bitcoin is a signal foropening long positions on a coin. This is the opinion of the analyst under the nickname light.</p>
“Over the years of cryptocurrency trading, I learned one lesson: when people begin to raise the topic of the surrender of miners, remember to open a long position.”
Analyst DonAlt agrees with him, who previously stated that he would go long if the market shows a decline ahead of the May Halving:
href=»https://twitter.com/CryptoDonAlt/status/1225974060481470464?ref_src=twsrc%5Etfw»>February 8, 2020</p>
“Now that bullish halving claims have been replaced by «miner capitulation» “Time is getting long again.”
In early March, an analyst at Byzantine General called the level of $ 7,700 the average cost of miners to mine one bitcoin.</p>
Thus, the current price of bitcoin at $ 5130 creates additional concerns about the bankruptcy of miners and the rapid decline in hashrate.
Earlier, CoinShares experts said that after the fall of Bitcoin, a third of mining capacities are operating at a loss.