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Bitcoin power consumption is more than many countries such as Norway and Switzerland

Bitcoin power consumption is more than many countries such as Norway and Switzerland
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Bitcoin Flash Crash Due to 'Market Overreaction' to 'Non-issue,' Analyst Says

Bitcoin Flash Crash Due to Market Overreaction to Non-issue, Analyst Says
On 4/19/21 at 2:30 PM EDT
Bitcoin plunged nearly 20% less than a week after reaching a new high as automatic sell orders kicked in, deepening the downturn and underscoring the cryptocurrency s volatility.
Sunday s flash crash, similar to wild computer-driven swings in the stock market, did no lasting harm, and Bitcoin s price quickly made up some of the loss.
A power outage in the Xinjiang region of China where a significant portion of Bitcoin mining takes place caused a very sudden dip in the global hashrate which, in turn, caused transactions to back up and fees to rocket temporarily, Jason Deane, Bitcoin analyst at Quantum Economics, London, told ....

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