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Report | Bitcoin tops $ 61,000, mining seller: price changes too fast, selling miners is like “selling a house”
Source: Venture Capital Exchange
Bitcoin makes 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 night of March 13, Bitcoin rallied rapidly in the short term and then hit the $ 60,000 mark. On March 14, the price on the Huobi platform showed that the price of Bitcoin continued to rise, once it broke the $ 61,000 mark.
Market data shows that Bitcoin has risen more than 35% since March, and has risen almost 110% this year. At the end of last year, the price of Bitcoin was still around $ 29,000.
“The price has increased, please ask again.” Mining vendor Xiao Wang kept updating on WeChat Moments. “There are a lot of people who have asked about it recently, and now it’s hard to get the products.”
As we all know, Bitcoin is mainly based 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 booth at Huaqiang North SEG Plaza. “In 2018, the price of Bitcoin plummeted and started to cool down there. In the worst case, the entire row of stores was empty. What I know is that some people are now switching to online operations and others have already left. moved out it’s hot again, but I’m still used to doing it online. “
In his view, the rise in the price of bitcoin has driven the demand for mining machines. Investors have bought more high-powered mining machines, hoping to take advantage of the high price of the coin and earn more stable income by increasing computing power. , which has driven it The price of mining machines is increasing. From outside, the rainy season has arrived from March to April, and many players are also ready to move. The journalist found that the official websites of many mining machine manufacturers show that the new machines are out of stock. Bitmain’s official website shows that the Antminer S1995T, S19Pro110T, etc. for sale are out of stock. In addition to the new mining machines, the second- Manual mining machines are also out of stock. “An Antminer S19 was 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 the new ones are almost sold out, and the number of second-hand mining machines is not much. “. Xiao Wang said with a smile. “Now the price is the same as selling a house in Shenzhen through a real estate agency.”
Why do you say that? Because the price changes too fast, Xiao Wang’s quotes are replaced by the words “XX”. “Currently, only the reference price is allowed to sell houses in Shenzhen, and the owner’s price cannot be indicated directly. The sale of mining machines is similar, but there is no reference price.
Guosheng Securities believes that the recent high price of Bitcoin will inevitably lead to increased revenue for miners. Bitcoin mining machine shipments are limited by the production capacity of chip foundries, and the increase in computing power of the entire network is limited. The payback cycle of miners is an important factor taken into account when pricing for mining machine manufacturers. The income of miners increases and the investment payback cycle is shortened, so there is a high probability that the price of mining machines will increase and income will increase. The cost of purchasing mining machines is increasing and new miners returning to the market are less likely to return to the current cycle than miners who have purchased sufficient computing power in the previous period.
“The price of the current mining machine is really too high,” Xiao Wang told reporters, “Try not to make leeks and let it cook for a while.”
“Have you reached the top?”
Bitcoin keeps breaking the top and setting new all-time records. For a time, it seems that traditional technical analysis has failed. The question in the market may have changed from “have you 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.”
Du Jun, co-founder of Huobi Group, said the main reasons for the price of Bitcoin to exceed US $ 60,000 include the passage of the US $ 1.9 trillion stimulus bill. Investors have resolved their concerns about it. tightening of the monetary environment. caused by inflation The currency underwent a strong correction, that is, the market is not optimistic about inflation, the current policy was implemented and the previous excessive fall was corrected. In addition, the attention and recognition of Bitcoin by large publicly traded companies is gradually increasing, funds continue to flow into the Bitcoin market, and individual investors in the market have strong emotions and have joined the ranks of the purchase of Bitcoin. 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 a turning 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, US Treasury Secretary Yellen stated that Bitcoin is not a widely used trading tool and that investing in Bitcoin is currently “highly speculative.” Yellen previously stated in an online seminar that the use of Bitcoin transactions is “extremely inefficient” and that Bitcoin has significant hidden dangers in terms of legality and stability, and investors can suffer losses. Regarding the recent Bitcoin boom, JPMorgan Chase believes this is just a seemingly animated “economic show.” After the epidemic, the development of fintech deserves more attention from investors, because innovation in fintech will dominate financial services.
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