Massive power outage in China's Xinjiang province

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Another reason for the fall in the bitcoin rate is the collapse of the hash rate by 40%. This happened due to a massive power outage in the Chinese province of Xinjiang. The hashrate began to fall on April 16, and on April 17 it was fixed at a minimum of 109.3095 EH / s.

What exactly happened there is unclear. Some Western media outlets will describe there was an explosion, while local media say there was a flood in the coal mine, which led to the temporary closure of miners during a security check.

I don't know how the price and hash rate correlate, but judging by the graph, the connection is weak. Bitcoin began to correct on April 14 and the decline accelerated only today. Maybe there really is a lag, so it slowly recovers.

Posted Using LeoFinance Beta



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