**Bitcoin Mining Faces Challenges Amid Price Decline**

**By [lex]**  
*September 16, 2024*

The Bitcoin mining sector is experiencing difficulties as BTC accumulation slows, with miners reporting their lowest revenues in almost a year this September. This revenue drop may force miners to sell more of their mined Bitcoin to cover costs like electricity and equipment.

Bitcoin’s recent price decline continues a correction trend, having tested the upper trendline of its descending triangle range as resistance. The price target for September is projected around $52,500-$53,000, near the lower trendline. However, if Bitcoin rises above the 50-day and 200-day moving averages, it might break through the upper trendline and target $65,000.

### What’s your take?
- How will declining mining revenues affect Bitcoin’s price?
- Will Bitcoin break through the $65,000 resistance?
- What strategies should miners adopt in this market?

Share your thoughts below.