One man's folly is another man's gain...

That statement could not be more true in the case of the bitcoins (plural).

Though I would argue that the halving isn't a folly per say, but instead an extremely bullish supply shock that also causes a temporary dip in the overall hashrate.

We saw this sort of play out with the other bitcoins though...

Both BCH and BSV saw their hashrates fall immediately following their halving events:

(Source: https://bitinfocharts.com/comparison/hashrate-bch-bsv.html#3m)

And guess who benefited when that happened?

Bitcoin.

As their total hashrates declined significantly following their halvings, bitcoin's increased significantly.

Coincidence?

I think not...

Well, now it's BTC's turn...

As the halving took place on Monday, bitcoin's total hashrate has been sliding ever since.

(Source: https://bitinfocharts.com/comparison/bitcoin-hashrate.html#3m)

And guess who has been benefiting from that?

Yep, you guessed it... the other bitcoins.

Both BSV and BCH are seeing a sharp increase in their total hashrates these past few days.

Look on the far right side of the chart...

(Source: https://bitinfocharts.com/comparison/hashrate-bch-bsv.html#3m)

Mining resources are just bouncing between the bitcoins that pay the most rewards...

Something that really makes a lot of sense.

Miners aren't really married to a specific project, but rather a bottom line.

If for example BSV is more profitable to mine than BTC, guess where the miners are going to go.

It's all about the money.

That being said, if the returns are equal, most do seem to prefer the BTC network judging from it's overall robustness in comparison to the others.

How much BTC's hashrate declines will be more apparent in the coming weeks as things are still sorting out post halving and the difficulty measure adjusts to reflect the current environment as opposed to the pre-halving environment.

Stay informed my friends.

-Doc