Someone insists that BTC mining companies have been changing to AI companies.
But, the fact is BTC hashrate declined -20% approximately, compared to ATH(All Time High). Then, you can ask back, "So, is it a deep decline?"
In 2021, BTC hashrat collapsed around -50%
In 2018, it fell ~30~40%.
..? 🤔
It sounds that BTC miners turned off lots of mining machines, and sold at market prices. But, the current correction of BTC hashrate is even smaller than 2018 and 2021..?
PMI(Purchasing Managers Index) is still 52.7. It seems that retail speculators are paying risks only for stock markets. That's why altcoins are still around ATL(All Time Low).
I think not enough bubbles can't make enough price correction. So, cryptos won't likely have deep price corrections more.