So, you can just imagine the staggering overinvestment NOW in bitcoin mining.
Maybe the market is just trying to get rid of overcapacity.
A few big bankruptcies in the coming months would probably do wonders.
From another biased point of view though.. CNN and cointelegraph are extremely biased. We need a news source that is completely unbiased now!
I am sorry to tell you that there is no such thing. If you look at the CNN articles regarding some political issue that allows comments, the top comment (based on votes) will almost always contain something about CNN being biased and not reporting the whole story.