My guess is that miners represent sellers. If miners stop mining, less selling pressure?! That would be my guess.
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My guess is that miners represent sellers. If miners stop mining, less selling pressure?! That would be my guess.
Well, if difficulty goes down, it doesn't mean that fewer new BTC are mined; the block rewards are always the same (12.5 BTC), so that can't really be an explanation.
Maybe (but this probably won't make for a big enough explanation) it is because miners would need to actually cash their BTC to pay for OPEX, and they would have to cash a smaller percentage if costs are lower...
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