Bitcoin Drops Below $43000, but why?
Bitcoin’s price droppen to below $43000 and making new lows for 2022. After nearly hitting $52000 after Christmas, Bitcoin just kept dropping, with today almost 8%. Most altcoins dropped also with dubbel digit percentages.
Because of the situation in Kazachstan and the news about the Internet been shut down, Investors are selling their Bitcoin. Kazachstan is a big Bitcoin Mining hub because of the cheap electricity. But People are scared that the Hashrate will drop after Internet has been shut down at the Country. Also de Omicron variant keeps investors nervous.
Did the hasrate actually drop after Kazachstan did shut down internet?
If we check the charts from Blockchain.com, we don’t see any drop in hashrate: