The current state of encryption currency market like jumped out of the plane has yet to open the parachute because of gravity induced free fall. Since November 14th this year, the value of BTC is from about $6300 level down to the current level of $4500. In less than a week, fell nearly 30%. BTC reached new lows in a few hours ago, $4380, many currency traders worry about encryption bitcoin has not yet hit bottom.
The lowest BTC hash rate since August
According to eToro’s senior market analyst Mati Greenspan said, the current bitcoin hash rate is the lowest level since August of this year. With the passage of time, decline appears to be continuing, it is a clear indicator of some of the miners may choose to close their machine or to other crypto currency mining.
BTC mining is still profitable?
According to the location of the estimated cost of electricity, the average cost of a bitcoin mining in the $6000 to $7000. BTC the current value of $4500, bitcoin miners are obviously at a loss.
If the mining activity is collective, then you can operate at a loss for a period of time. Large bitcoin mining pool may have taken emergency measures to deal with. But for smaller miners, closed their mills is logical in the current market environment.
The BTC camp in the bitcoin miners choose cash hash in the war
However, some of the miners decided to use them is transferred to bitcoin cash, to end the fighting between the camp and the SV camp to accelerate ABC.
BTC.top is an encryption such mineral company, has started mining bitcoin cash to support BCHABC. The CEO River Saturday morning drow through Twitter announced to BCH mining, specific as follows:
According to the promise “…… Hash and respect the outcome of the war, http://BTC.TOP has moved to the ABC hash chain to support the BCH and end the chaos.”