With Bitcoin dropping significantly now, it seems like the end is in sight as the leading cryptocurrency has moved below the $3,700 region pulling the rest of the crypto market along with it. That being said Bitcoin SV seems to be the shining light of the day, as it surpassed EOS for a short time earlier on.
With the continuous drop of Bitcoin, many investors are left worrying about the digital assets in the crypto space moving to nothing entirely. Nevertheless, there are some analysts and experts out there who believe that the digital asset has a built-in safeguard to prevent it from crashing all the way to fearful zero mark.
As reported by ZyCrypto, a tech entrepreneur and an academic professional at the University of Nicosia, Andreas Antonopoulos has said words on the matter in an attempt to bring the concerned Bitcoiners back to a more optimistic place. He was recently in an interview on YouTube, during which he said that the difficulty of mining being adjusted will allow miners to bring in a lot of relief to the current state of the market.
“If they wait until the difficulty retargets and the difficulty becomes less, then each miner who waits makes more profit because in the new scheme they have a greater percentage of the mining power than they did before. Let’s say if the mining power drops by 50%, the miners who stick around and wait for the difficulty to retarget are now twice as profitable after the retargeting… that’s a pretty good incentive to stick around.”
Another Bitcoin supporter is Anthony Pompliano who believes that the currencies design will let it pull through the turmoil of the bear market and come out well on the other side.
“Bitcoin has been through these major declines and bear markets before. It is an anti-fragile asset. The system is designed in a way that allows for course corrections, in both directions, based on market conditions. Simply, bitcoin was designed to survive.”
The current state of things has been tough on many investors. Several mining pools have shut down and the crash has brought the whole mining community to a halt.
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