Events in Kazakhstan, which has become the second largest Bitcoin mining center in the world, also hit the cryptocurrency market.
In the country where protests and armed conflicts are experienced, the interruption of internet access has greatly affected mining.
With the events in Kazakhstan and the Fed's signal to increase interest rates, the leading cryptocurrency Bitcoin fell to the level of 41 thousand dollars .
Kazakhstan had become the second largest Bitcoin mining center in the world
After the ban brought by China , the protests against energy prices turned into armed conflicts in Kazakhstan, which came to the fore as one of the countries that Bitcoin miners turned to and became the second largest Bitcoin mining center in the world, hit Bitcoin miners.
Interruption of internet access caused Bitcoin miners to stop producing
The conflict in the country, the chaos environment caused the internet access to be cut off, caused the production of Bitcoin miners to stop.
According to a sage from digital currency company Foundry, Kevin Zhang, the internet shutdown of Bitcoin miners in Kazakhstan has shut down 15 percent of the world's Bitcoin mining network.
Although internet access is restored in Kazakhstan, it is predicted that the chaos and energy shortages in the country will prevent Bitcoin miners from returning to production with a strong capacity.
Bitcoin price dropped
With the effect of this chaos in Kazakhstan and the Fed's signal to increase interest rates in March, the price of Bitcoin decreased by 2.67 percent to $ 41 thousand 220 .