The post Bitcoin Mining Industry Not Optimistic on a Bull Market Coming Soon appeared first on Coinpedia Fintech News
Fantastic news! Hashrate Index, a professional mining data company, has made the forecast that the present bear market for bitcoin will terminate in the year 2023. On the other hand, Bitcoin mining industry professionals don’t seem to have a very bullish outlook on the future of the market.
What Hashrate Index’s Predictions Are
According to the findings of the Hashrate Index, it is still much too early for a new comprehensive bull market to emerge. The increase of Bitcoin’s hash rate will also slow down, according to the research, and ASICs, which are application-specific integrated circuits, will become relatively affordable.
The United States was recently hit by a harsh winter storm, and as a result, a great number of miners were forced to turn off their equipment. As a direct result of this, the hash rate for Bitcoin dropped by 35% in only one day. According to
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