Dramatic drop of the BTC hashrate

The total hashrate for BTC has dropped with more than 50%. Mining BCH has become more profitable. I see that major miners have reduced their mining effort and some like BTC.TOP have stopped completely mining BTC. As a result the average time between blocks has gone up to above 20 minutes. The number of transactions waiting to be confirmed is now more than 150.000 and still rising. Tomorrow we will probably reach an all-time high above 200.000.

It will take time for the difficulties to adjust for this and then it will be profitable for miners to start mining BTC again. The difficulty for BCH will increase and the difficulty for BTC will decrease. The adjustment for BTC will take place after 1860 blocks and with the current creation rate that will take more than 20 days. I do expect that some big miners will switch back to BTC because it is in their interest to do so. Miners will want to keep BTC alive because they like it when they can switch between more than one blockchain and they also are probably still holding substantial amounts of BTC. Although it is more profitable now to mine BCH some major miners are still mining BTC. Bitmain (Antpool and BTC.COM) is still mining BTC (15 blocks in the past 24 hours) and BTCC who did stop for a few days has switched back to mining BTC now (they mined 8 blocks in the past 24 hours). Even Bitcoin.com, owned by Roger Ver, has mined two blocks in the past 24 hours!