BTC - After mysterious flash crash, hash rate bounces back
The Bitcoin network took quite a hit yesterday
Both in price and in total hash rate.
The hash rate plummeted by close to 40%, seemingly out of no where.
A day later, it's almost right back to where it fell from:
(Source: https://twitter.com/notgrubles/status/1177213397626171392)
I don't even have a guess as to what caused such a drop.
The strange thing was the drop happened a few hours before the price tanked as well.
Something strange happened somewhere but we probably won't find out for sure what it was until days, weeks, or months later.
I don't believe bitcoin had crashed and cannot raise again because I still believe that it will raise again. Take a look at the time bitcoin dropped down to $6000 which also affected other crypto currency like litecoin. We thought that is the end of bitcoin crashing everyday. But it increased suddenly to $10000 which attract more investors to buy into bitcoin. So, if it goes down now does not mean it won't raise again.
True.
Hmmm. If one owned a large mining asset, it seems that it might pay to shut it off, generate some downside hype, and then turn it back on again.
Lather, rinse, repeat.
I would never do such a thing :-) but one could. At least until someone figured out the game.
I doubt this actually happened. Just doing dome conspiracy hypothesizing.
How would that benefit them though in any way?