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Recently, there has been a deluge of negative news, and the ensuing worry is palpable. DeFi appears to be gone, and altcoins ended their lifetime by returning to $0 (I assume that's a joke). Bitcoin's (BTC) price plummeted lower than even the most intelligent minds in the room anticipated.
The most recent bull market looks to have been unified by greed. Everyone was overconfident and greedy, as seen by the amount of debt and leverage being unwound as 3AC, Celsius, BlockFi, and Voyager face the severe possibility of bankruptcy.
It appears that Bitcoin miners and BTC mining businesses were not immune to the mood of over-exuberance and the idea that "up only" was true until Bitcoin's price reached the long-anticipated $100,000 objective that most experts maintained.
Cointelegraph was able to secure a moment with HashWorks CEO and founder Todd Esse to discuss the current state of the mining industry and his forecasts for where the market may be headed over the next year. Historically, Bitcoin miners have been an elusive species unwilling to spill the beans to the public.
Read the full interview published on CoinTelegraph.