Bitcoin breaks through $61,000. Mining machine sellers: price changes too fast, selling mining machines is like “selling a house”|USD_Sina Finance_Sina.com


Just look at stocksGolden Unicorn Analyst Report, Authoritative, professional, timely and comprehensive, to help you tap potential theme opportunities!

Feature | Bitcoin breaks through $61,000, miner sellers: the price changes too fast, selling miners is like “selling a house”

Source: Venture Capital Exchange

Bitcoin is making history again.

Although the price has fallen after setting a new high in February, Bitcoin has ushered in a new wave of gains. On the evening of March 13, Bitcoin rose rapidly in the short-term, and subsequently hit the $60,000 mark. By March 14th, the price on the Huobi platform showed that the price of Bitcoin continued to rise, once breaking through the $61,000 mark.

Market data shows that Bitcoin has risen by more than 35% since March, and it has risen by nearly 110% this year. At the end of last year, the price of Bitcoin was still around $29,000.

“The price has been raised, please re-inquire.” The miner seller Xiao Wang kept updating in WeChat Moments. “There are many people who have asked about it recently, and it is difficult to get the goods now.”

As we all know, Bitcoin mainly relies on “mining”,Shenzhen HuaqiangNorth has become one of the largest distribution centers for the sale of mining machines in the country and even in the world. Xiao Wang previously rented a stall in the Huaqiang North SEG Plaza. “In 2018, the price of Bitcoin plummeted, and it started to cool down there. At its worst, the entire row of shops was empty. What I know is that some people are now switching to online operations, and some people have already moved out. It’s getting hot again, but I’m still used to doing it online.”

In his opinion, the rising price of Bitcoin has driven the demand for mining machines to surge, and investors have purchased more high-power mining machines, hoping to gain more stable income by increasing the computing power while the price of the currency is at a high level. The price of mining machines is rising. Outside, the wet season from March to April has arrived, and many players are also ready to move. The reporter found that many mining machine manufacturers’ official websites show that the new machines are sold out. The official website of Bitmain shows that all the Antminers S1995T and S19Pro110T on sale have been sold out. In addition to the new mining machines, second-hand mining machines are also sold out. Become a sought-after item. “An Antminer S19 sold for about 15,000 yuan in the middle of last year, and now the spot price may be more than 50,000 yuan, and brand new ones are almost gone, and the number of second-hand mining machines is not many.” Xiao Wang said with a smile. “Now the price is the same as selling a house in Shenzhen through a real estate agency.”

See Also:  Jean-Pierre Farandou: "We can't run SNCF without the unions"

Why do you say that? Because the price changes too fast, Xiao Wang’s quotations are all replaced with “XX”. “At present, only the reference price is allowed for selling houses in Shenzhen, and the owner’s price cannot be stated directly. Selling mining machines is similar, but there is no reference price.”

Guosheng Securities believes that the recent high price of Bitcoin will inevitably lead to an increase in the income of miners. Bitcoin mining machine shipments are limited by the production capacity of chip foundries, and the increase in the computing power of the entire network is limited. The payback cycle of miners is an important factor considered when pricing mining machine manufacturers. Miners’ income rises and the payback cycle is shortened. Then there is a high probability that the price of mining machines will be raised, and the income will be thickened. The purchase cost of mining machines increases, and the new miners entering the market are less likely to return to the current cycle than the miners who have purchased sufficient computing power in the previous period.

“The price of the current mining machine is indeed too high.” Xiao Wang told reporters, “Try not to make leeks and let it cook for a while.”

“Has it reached the top?”

Bitcoin keeps breaking the top and setting new historical records. For a time, it seems that traditional technical analysis has failed. The doubt in the market may have changed from “has it reached the top?” to “where is the next high point?”

$70,000-This is the answer given by Philip Swift, co-founder of Decentrader, an American market analysis company. Antoni Trenchev, co-founder and managing partner of Nexo in London, believes that every price correction is a buying opportunity and an opportunity to gain momentum. “Bitcoin’s resilience is legendary.”

See Also:  Hydroalcoholic gel: the Order of chemists launches an investigation

Du Jun, the co-founder of Huobi Group, said that the main reasons for the Bitcoin price to exceed 60,000 US dollars include the passage of the US 1.9 trillion US dollar stimulus bill. Investors have resolved their concerns about the tightening of the monetary environment caused by inflation. The currency experienced a sharp correction, that is, the market is not optimistic about inflation. The current policy is implemented, and the previous excessive decline has been corrected. In addition, the attention and recognition of Bitcoin by large listed companies is gradually increasing, funds are still flowing into the Bitcoin market, and individual investors in the market have strong emotions, and they have joined the ranks of buying Bitcoin one after another. Funds have been injected into the market to promote the rise of Bitcoin. Regarding the development of the market outlook, Du Jun believes that it is necessary to refer to the expectations of the global market fundamentals. If there is an inflection point in the global economy, the main reason supporting the rise of Bitcoin may disappear. Investors should pay close attention to changes in macroeconomic policies.

Earlier, U.S. Treasury Secretary Yellen said that Bitcoin is not a widely used trading tool, and that Bitcoin investment is currently “highly speculative.” Yellen previously stated in an online seminar that the use of Bitcoin transactions is “extremely inefficient” and that Bitcoin has important hidden dangers in terms of legality and stability, and investors may suffer losses. Regarding the recent booming Bitcoin, JPMorgan Chase believes that this is just a seemingly lively “economic show”. After the epidemic, the development of financial technology deserves more attention from investors, because financial technology innovation will dominate financial services.

See Also:  Gloves Market 2020 Global Industry Analysis by Trends, Size, Share, Company Overview, Growth and Forecast by 2026 Latest Research Report by Research Reports World

Scan the QR code to open an account in 3 minutes >>


Sina statement: Sina.com publishes this article for the purpose of conveying more information, and does not mean that it agrees with its views or confirms its description. Article content is for reference only and does not constitute investment advice. Investors operate accordingly at their own risk.

Disclaimer: The content comprehensively provided by Wemedia is derived from Wemedia, and the copyright belongs to the original author. For reprinting, please contact the original author and obtain permission. The opinions of the article only represent the author, not the position of Sina. If the content involves investment advice, it is for reference only and should not be used as an investment basis. Investment is risky, so be cautious when entering the market.

Massive information, accurate interpretation, all in Sina Finance APP

Editor in charge: Zhang Shuyuan

.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.