Bitcoin [BTC]: Miners may be capitulating, but is that all there is to it
— Miners, Capitulating, Btc, Miner, Selling, Bear, Worth, Market, Capitulation, Bitcoin, Mining — 1 min read
Bitcoin's standing revolves around investors and HODLers, but it also depends on miners’ behavior. Miners are responsible for creating the environment that may be required to sail the king coin through the bear market. Miner capitulation usually takes place when the value of Bitcoin as a reward tends to be lower than that of operating or mining Bitcoin for the miner. The ongoing capitulation may eventually help weed out weaker miners, leaving the charge to stronger miners. Ultimately, this leaves BTC in state wherein the crypto can recover from its crashes. If Bitcoin intends to reclaim its highs, it will need to rally by 222% (ref. Bitcoin price action image), which would only happen thanks to a full-fledged bear hunt, to do. Source