Miners are Bulls of Last Resort

Price and profitability take another hit but miners continue deploying hashrate

After a small recovery, Bitcoin price went down again. It seems like everyone is bearish, expect for the miners. Last week there was a new all time high in network hashrate. Meaning that never before there was such an amount of computing power online to mine blocks. As a consequence, difficulty also hit a new all time high. The Bitcoin network has never…