This is weird: when you mine a crypto you basically won't sell it under a certain price, no matter what. For some it's the electricity+mining cost price, for others just the idea of a price, and for some others an evil scheme etc.

But when price drops spectacularly like what we see right now, most miners desert the battlefield leaving only small & determined miners digging the trenches and mining at will with reduced difficulty. This is what is interesting by those times. Hashing power dropping because prices drop and therefore more coins for the remaining miner. This shows why most miners are in: instant profits. We can really get a measure of the finality of the mining process in those times, i.e.: the %age of miners leaving the game are the dumpers.

Therefore these dumpers leaving the game lead to a further stopping of the decline, and this is a self equilibrating situation.

Should price go up again big miners & dumpers flock again, then mining during crises would prove an excellent strategy because it gives small miners the lion's share in crucial times as well as more determination in holding their hardly earned coins, therefore negating whatever big miners can come up with when competition really hurts. The begining of a coin should always happen with expansion-retraction cycles to solidify the base. This illustrates that the value of a scarce resource is also defined by the stocks and the willingness to sell at a given price.

I wish more miners leave the scene and go away mining the DOGE farce or fight a desperate war against asics on LTC before coming back once prices take off again. They would have rendered a nice service to small holders that will constitute the base of the holders, and later whales. Because you don't sell something for no profit.