Quote from: johnwest on Today at 01:23:03 PM

Currently, the price is hovering just above 32500$. The FUDs are getting too much these days and especially China is trying to put its miners below their feet. The has rates are going back to mid-2020 levels. In my opinion, this is actually a good thing for the BTC's future. The mining % will be less under the Chinese communist and this will also create more mining plants outside China. So this news might be a blessing in disguise for the crypto community.

It is a blessing in disguise and no one is really comfortable with the fact that 70% to 80% of the mining hash power is concentrated in China. There are several countries with more friendly cryptocurrency policies. But the issue is that the vast majority of the mining hardware is produced in China and therefore it is cheaper to set up mining farms there.