More than half of Chinese miners expect an influx of new bitcoin buyers after halving, 71% believe that the cryptocurrency has restored market confidence. This data is provided by RockX based on the survey results.
It was attended by 42 representatives of the largest Asian mining companies and communities, according to the firm.
Expecting a bull market after halving, only 14% of respondents assumed that bitcoin will grow above $15,000 in the next six months. 45% of respondents believe that the price of BTC will be from $10,000 to $12,000, and 24% see the cryptocurrency at the lower end of the range.
In contrast, RockX believes that the computing power of the bitcoin network will fall to about 90 EH/s. The day before, the hashrate updated the historical maximum above 140 EH/s (Glassnode).
In contrast, RockX believes that the computing power of the bitcoin network will fall to about 90 EH/s. The day before, the hashrate updated the historical maximum above 140 EH/s (Glassnode). The company is confident that as a result of halving, Chinese miners will strengthen their positions. The event coincides with the start of the rainy season and access to cheap electricity for them, and the COVID-19 pandemic has made it difficult for farms in North America and Europe to get new efficient equipment, RockX noted.
Recall, according to Coinmetrics, about 23% of the hashrate of the bitcoin network is provided by ASICs Antminer S9s. According to Alejandro de La Torre, Vice President of Poolin, the devices will become unprofitable after halving, and the miners will disable them.