There is a speculation that massive power outage cause bitcoin's crash down to 50K ,
-According to the Cambridge Bitcoin Energy Consumption Index, or BECI, Xinjiang represents nearly one-quarter of the global hash rate.
The analyst notes yesterday saw the largest daily drop in total Bitcoin network hash rate since November 2017, with hash rate plummeting from 172 million terahashes per second, or TH/s, to less roughly 154 million TH/s, according to Ycharts.
**or this crash down just happen same time the whale making selling liquidity in BITCOIN ? **
-Since BITCOIN is making rally bullish , this make the funding rate turn to negative , it is a huge opportunity for whales to liquid their BTC for lower fund .
What ever the cause of those crash , it still give a opportunity for us to buy from the dip before the momentum rally . But the things that really bother me is *CHINA is getting so much ahead by also controlling the crypto market .
Reported and update Jun 25, 2019 : https://www.investopedia.com/news/bitcoin-wont-win-worldwide-adoption-because-china-controls-it-ripple-ceo/
How many BTC mining done in china ?
In April 2020 , China being report distribute about 65% mining hashrate to the BTC world
It increasing to 75% in 2021 , which has been report at 8 April 2021
Can POS solve future CHINA monopoly in crypto ? Or those BTC liquidity is their step to putting their portfolio for crypto stacker especially ETH 2.0 is coming soon . I realize this is not just about crypto , but it is a silent war inside it .