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Why is computing power dropping (computing power has been dropping all along)?

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Why is computing power dropping? We all know that miners\’ earnings come from mi

Why is computing power dropping (computing power has been dropping all along)?

Why is computing power dropping? We all know that miners’ earnings come from mining with graphics cards. However, in many cases, the prices of Bitcoin and Ethereum have been constantly falling, and there have even been cases of significant drops in Ethereum prices.

When you purchase a Bitmain S9 machine and try to do some operations, you find that you can’t buy any coins at all, resulting in the elimination of the mining machine… And this situation often occurs in the network. So we encounter a problem in the investment process: How severe is the fluctuation of our computing power? If we analyze it according to the current average level, it is actually caused by insufficient power resources for most investors. Therefore, for ordinary investors, they may not have considered whether their encrypted assets are safe. Because these factors make it difficult for most people to choose the right cryptocurrency for themselves; or they just sell their tokens for speculative purposes, seeking lower returns in the market, but this does not necessarily mean that they will sell at a loss.

Computing power keeps dropping

Editor’s note: This article is from Olaily Star Daily, authorized for reprint.

The day before yesterday, the BYD Mining Pool mined a block height of 9,400 for Bitcoin, which is approximately 13,900M in today’s price calculation. The process of computing power decline has begun this morning:

Yesterday’s growth rate of the entire network’s computing power reached 95.6%, close to the historical high;

However, it is obvious from the current situation where computing power continues to drop. Because the overall market trend has been weak recently, everyone should also be cautious about this data.

Currently, there are many people in the market who consider this halving as an opportunity and a positive indicator (such as BTC and ETH). However, many factors affect the market trend, including significant rises in token prices during downward trends or large market corrections. Therefore, we can see the continuation of this trend:

The first is the second half of this year. Although there is no particularly strong bull market, it may also be affected by the epidemic. After all, the epidemic has been going on for a long time. If we add last year’s economic crisis, it is estimated that it will continue for a while, then return to a low point this year. (I believe there will be a certain rebound in the short term.) The second is that the recent price of Bitcoin has been rising rapidly, and even last month, there was a phenomenon of an increase of more than 30%. Some friends believe that this rise is manipulated by “whales.” But why did so many people generate profits so quickly? The reason is very simple: on the one hand, there are fewer newcomers, and on the other hand, more and more people in the entire circle are accepting digital currencies as a means of value storage, and their understanding of digital assets is gradually diversifying.

The third is that in recent months, the price of Bitcoin has fluctuated greatly. Except for some niche investors, basically few people have heard of these terms. Many people prefer to hear their names – “altcoins” and “aircoins.” They are not here to make money. Some tokens can be used to invest in high-risk projects.

The fourth is that recently, there has been a lot of publicity about cryptocurrency trading platforms in China, especially when foreign exchanges launched Bitcoin futures platforms, attracting funds from many retail investors to participate in trading. Of course, some media have also expressed their opinions: “Stock trading is like gambling.” Finally, in the past two weeks, there have been a large number of fake HT trading pairs on Binance, resulting in heavy losses for users. This has caused most people to choose to wait and see to avoid being deceived. In other areas, the booming trend of IEO may make people feel uneasy.

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