• ELSA MARTIN

    @elsa_millan

Updated Monday, January 17, 2022-01:31

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Bitcoin begins to show signs of recovery after a start to the year that has been the worst in the last decade.

Although this weekend it has exceeded 43,000 dollars, the most popular of cryptocurrencies lost the level of

40,000

greenbacks

after several weeks of declines that reached their lowest level coinciding with the demonstrations and protests in

Kazakhstan

.

Gone are the

highs of November

for now , when the virtual currency exceeded $68,000 before beginning its downward path.

Several factors have come together since then in this journey, but the most recent takes us to

Kazakhstan

, the second country in the world in cryptocurrency mining (just over 15% of production), only behind the United States.

Citizen protests against the government caused the country's authorities to declare a state of emergency and cut off Internet access, for which many bitcoin miners stopped their activity.

The chaos caused by the power and internet outages dealt a major blow to bitcoin, from which it is still trying to recover, but beyond that, the episode has once again brought to the fore the relationship between the creation of bitcoin - the so-called bitcoin mining - and energy consumption.

What is the relationship between the fall of bitcoin and the protests in Kazakhstan?

We try to address the keys:

Source:

Cointelegraph, bit2me, University of Cambridge, Netblocks, Statista and own calculations.

Infographic:

Elsa Martin

Art direction:

María González Manteca

Conforms to The Trust Project criteria

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