New epicenter for cryptocurrency mining likely to emerge

Much has been speculated about the price plunge that the entire cryptocurrency market has experienced since the Bitcoin price action began to depreciate.

Among the main reasons given is the crisis in Kazakhstan, a country characterized by the highest percentage of Bitcoin and cryptocurrency mining in the world, which is why the protests in this Central Asian country could have had an impact on the stability of the crypto market price.

If this crisis in Kazakhstan continues for a longer period of time, it would imply that the crypto market enters into greater instability, a fact that demands actions that tend to revert and create better conditions to be able to sustain price stability.

Now, it is worth mentioning that it is currently planned to install in El Salvador a country that can potentially become a new epicenter of cryptocurrency mining, this if we consider the governmental acceptance that the president of this country has given to Bitcoin.

It should be recalled that the President of El Salvador had already announced on several occasions his great plans to turn his country into a global cryptocurrency laboratory.

Even though there is nothing concrete, just the fact of considering the installation of new mining farms in other latitudes is already a great step in favor of the health of the cryptocurrency market.

The cover image was designed by the author: @lupafilotaxia, incorporating image: Source: thediplomat