As Bitcoin prices drop, and as bitcoin mining continues to become more expensive, the miners need to ask the question "is it worth it"? I can image a lot of companies in China (who are moving to other countries) are wondering what returns they will get. This will just push the Bitcoin prices down.

For other crypto, where mining is not key to their blockchain, there should not be this worry. But unfortunately investors see all "crypto" as the same, and all "crypto" means Bitcoin. So when Bitcoin goes down, so do all the others - regardless of their infrastruce, setup, governance, etc...

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