Shortly before that, the cryptocurrency market suffered billions of dollars of losses and prices fell to levels not seen since March.
Bitcoin Hashrate Drops Below 100 EH / s
This massacre in the crypto money markets naturally caused miners to earn less. Many of the miners, who could not cope with the decline and exceeded their income, went to switch off the device. On March 16, BTC hash rate dropped below 100 exahash regions and BCH hash rate dropped below 4 exahash. BCH’s block reward is about 22 days, and Bitcoin’s block reward is about 56 days.
F2Pool executives, one of the largest Bitcoin mining pools, said in a statement on the subject that a sharp hashrate drop will soon occur. Stating that Hashrate has always been behind the price, miners said that there are too many miners currently switching off devices on both the BCH and the BTC network.
The decrease in BTC hashrate, which has been on track with a record increase for months before Bitcoin Halving, will actually allow the network to automatically adjust itself. Despite this, the statement made by F2Pool stated that many miners will continue to shut down the device until the date of Halving.
The unexpected rise of prices can restore everything.