The previously blossoming blockchain industry has gone quiet. From what I could tell, he mining industry did not slow down in that way. What is the mentality of “mining in a bear market and buying digital currency in a bull market” and what is the prospects for the miners?
When markets are good, digital currency speculation allows one to achieve wealth and freedom quickly in a very short period of time. Currently bitcoin has driven a wave of virtual currencies down, and most of the gains made in 2017 has been wiped out. Miners are a relatively more robust investment.
Miners are getting cheaper
The price of bitcoin has continued to fall since November. Miners won’t leave their goods in their hands, so they cut prices to get rid of inventory.
Some small and medium-sized mining operations also chose to resell their miners second-hand. A year ago, the price of a mining machine was as high as 20,000. Currently these same machines now cost as little as 1,000 yuan. (Mempool provides one-stop professional miners sales hosting services, For more details please add customer service WeChat JOJO111777)
The Hash changes slow down
To buy a mining machine in a bull market, miners not only have to pay more for the machine but also bear the risk of reducing the number of coins mined because of the soaring Hash value.
In a bear market, miners are not as enthusiastic about mining and the growth rate of the whole network hash will slow down. This allows miners to mine a steady amount of digital money for a long time.
You get lower electricity bills
The price and stability of electricity bills play a decisive role in the mine.
In a bear market, a small difference in electricity prices can change miners’ minds. In order to survive, the mine field has to lower its electricity bills within its means. At this time to buy miners, is undoubtedly a good choice.