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10:44 AM
Why Bitcoin collapse is useful for mining

The March BTC crash of 50% to $ 3,800 lows allowed miners to prepare for the upcoming halving in advance. Christopher Bendiksen, head of the CoinShares research department, made this point of view. He reported that many companies have experienced a sharp collapse of the coin and a decline in revenue, while the least profitable have left this segment of the business.

CoinShares believes that a BTC drop of 50% will benefit mining
Source: leaprate.com
Thus, after halving and for several months of high volatility, the mining industry will be in a stronger position. Bendiksen also noted that miners will have to sell more mined coins. Accordingly, the BTC exchange rate will experience less pressure than before, in this connection the CoinShares representative forecasts a medium-term bullish trend in the cryptocurrency market.

The fundamental characteristics of the world's major cryptocurrency have not changed. The current situation on the world market can shed light on BTC, its scope and value of coins to the full. Probably, in the medium term, the "perfect storm" will start for Bitcoin.

Bendixen is confident that BTC will recover soon - this will reflect his behavior in the face of the global crisis. All this will be an important advantage for attracting institutional investors.

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