Bitcoin price bouce will occur when ‘weak hands’ capitulate and hashrate recovers

Independent analyst Willy Woo noted that Bitcoin’s price would only recover when “weak miners die” and the hashrate recovers.

When Bitcoin “sheds weak hands,” it means “inefficient miners running old hardware and high costs go into bankruptcy. While others are forced to upgrade hardware that’s more efficient” because their revenues have been halved, the analyst“After that’s done and the selling has ended, and only the strong remain, and they hodl waiting for higher prices.”

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