Another factor, according to experts, was an electrical power blackout in the Xinjiang region in China. This unanticipated development resulted in a decrease in the Bitcoin hashrate - the amount of Bitcoins are being extracted-- and also possibly alarmed capitalists into offering their properties. According to a 2020 research based off IP addresses from supposed hashers that made use of specific Bitcoin mining pools, majority of all the Bitcoin mining happened in China.
Think the mainstream media demonification of cryptos getting a bit out of hand - watched Scooby Doo with daughter last night and the villian was rocking a Bitcoin gold chain #gratuitous pic.twitter.com/TmYyjD1xRr
— Josh Rosenthal, PhD