All the focus so far has been on Bitcoin’s price cratering earlier this week due to the coronavirus, and the fates of bitcoin dependent companies. Naturally, as bitcoin goes so do the altcoins, with most of the charts of the decentralized altcoins showing the same stark decline as Bitcoin. They’re nearly identical in shape with only the values changed to reflect the various cap sizes and prices, so there’s no need to post all five.
It takes a certain kind of person to be optimistic about cryptocurrency in the wake of the coronavirus. Bitcoin dropped almost 50% over the weekend and while it’s starting to correct itself, having climbed up a few hundred bucks over the past 24 hours, it’s still not anywhere close to the CAD$10K it was at this time last week.
Hut 8 Mining (HUT.T) went into damage control over the weekend following Bitcoin’s precipitous 46% crash in the wake of the coronavirus, optimizing their mining operations by running its equipment in the most cost-efficient modes possible.