Cryptocurrency Crash Creates Computer Trash

Cryptocurrencies have lost about $60 billion in less than a week following the collapse of Bitcoin, Ethereum, Litecoin, Ether, and XRP, which hit their lowest levels since 2017. Bitcoin tumbled to $4,237, a 13-month low, before regaining some support in the late afternoon session. If $4,207 support is breached, Bitcoin could crash even more to the weekly 200sma at $3,130….

According to CoinMarketCap.com, digital assets have lost approximately $700 billion of market value since the crypto-mania peak in December 2017. Since the peak, Bitcoin has sustained 87% declines as hash rates have also taken a dip.

According to eToro senior analyst Mati Greenspan, Bitcoin hash rates have fallen to the lowest levels since August, and this has led some crypto miners to shut down their rigs. …

Meanwhile, the 2018 bear crypto market is forcing many miners to operate at a loss, “now it’s more economic to turn it off and take it off from the rack to reduce cost on electricity and opex,” tweeted Dovey Wan.

Wan shows alleged footage of a massive mining operation in China having difficult mining Bitcoin with depresses hash rates….

The video below shows a worker at one facility wheelbarrowing dozens of Avalon 741 7.3TH/s Asic Bitcoin Miners out of the building into a massive junk pile.

https://www.zerohedge.com/news/2018-11-20/whats-happening-now-crypto-devastation-collapses-hash-rate-forces-miners-dump-rigs

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