35 days ago I started a thread and I told you btc will go 9k$ bcz china banned miners, but some of you dont believed me, Today BTC is 8100$ in some exchange, Here is that thread:
https://bitcointalk.org/index.php?topic=5130327.msg50545198#msg50545198Now I have a good news , BTC to 50k$ bcz china banned miner, my friend in China confirmed 90% of miner in china are shutdown. BTC can easy go to 50K$ and more.
Less miners = More Demand = increasing price, as simple as that.
How do you figure that with less miners the demand will be higher? As the price of bitcoin goes higher the more people want to mine it. If China have less miners, other countries will gain more miners. Bitmain has mining farms outsider of China. I don't see bitcoin having less miners because of any China ban. The only reason I see for bitcoin to have less miners in the future is if the demand for bitcoin decreases over time.