Bitcoin Miner Decide to Halt Operations

Digital miners, or commonly known as Bitcoin Miner decide to halt operations ever since Bear Market strikes Bitcoin down to at least US$ 3,250 from last 8th December. Most of them start to sell off the mining equipment either they are going to "throw" every digital cash to the market or they need to cut off the expenses first. Anything is possible as long as these miners know what they are doing especially to maintain their financial.

Why Bitcoin Miner is the one that suffers the most?

Fun fact is, Bitcoin Miner, suffers more than trader does. They have to maintain their expense, they have to gain profit when trading on Cryptocurrency Market. When Bull market happens, miners increased but when Bear market happens, miners decreased. Some miners, who are willing to take a huge risk, will continue mining as they have a long-term strategy for it. Bitcoin has the same role as US$ dollar which can accept all payments around the globe. The only difference is Bitcoin is cryptocurrency while US$ is a cash. This, however, is just a beginning. Since cryptocurrency become common to use in every country. They, however, appear in alternate things like GO-JEK, Alibaba, etc. They accept cash currency and later, transform them into digital currency. The consequences now are those companies start to make their own bank, using customers money to create a bank.

Bitcoin Miner's Decision

After this massive bear strike from an early year, the miners decide to retire temporarily from Cryptocurrency business. Some decide to wait if Bitcoin will rise again while some decide to sell the equipment related to mining. They need to manage their financials first since using mining equipment costs with heavy price, high electric and cooler consumption. If all miners are gathered, they can power up 65% of Czech Republic electricity. The factory that sells digital mining equipment decides to follow the price based on Bitcoin price is. When the bull market happens, the price will rise but when the bear market happens, the price will fall.