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Chinese Bitcoin mining shakeout may have surprise BTC price consequences — analyst By Cointelegraph

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Chinese Bitcoin mining shakeout may have surprise BTC price consequences — analyst

China’s crackdown on (BTC) mining may have unintended benefits for BTC price action, one analyst suggests.

In a tweet on June 18, Charles Edwards, CEO of investment firm Capriole, argued that the Chinese miner exodus was already lowering Bitcoin’s potential price floor.

Bitcoin production cost vs. chart. Source: Charles Edwards/ Twitter