Miners will soon start shutting down in energy-expensive locations. This is what will trigger capitulation - the realization that BTC is not merely losing its value but actually dying off as a concept entirely. You've been warned.
Miners Shutting Down
Andrew Nelson
Noah Allen
>Bears are reaching peak euphoria
Finally a reversal is coming.
Nicholas Gomez
It will happen!
Zachary Hill
Sad to say that I agree with this.
If we breach 5800, we're fucked.
Cameron Lee
That would actually cause the price of btc to go up brainlet.
Austin Stewart
SOME miners will shut down. The difficulty will adjust to a lower level. This means there will be fewer miners.
Gabriel Reed
most will just switch over to the better bitcoin cash soon
Isaac Cox
yah but difficulty retargeting only happens every 2 weeks I believe.
Oliver Miller
Yes mining costs will decrease. But the knowledge that the network is actually slowly going offline will be the catalyst for a runaway dump.
Jeremiah Wright
If miners all drop the coin it will never hit target readjustment. This is pretty bad. But if the drop off is slow it shouldn't be too bad