Bitcoin has fallen sharply this time, from $10,000 to as low as $3,800, a 62% drop.
Markets around the world are falling, as long as the more liquid assets are sold.Everyone sold everything, whether it was oil, gold, Bitcoin.One is to switch to fiat currency to hedge, and the other is because of panic.
We talked to the miners about what's going to happen with bitcoin, and the main takeaways:
First, S9 is offline.
All Antminus S9 machines have been taken off the shelves, at about $6,000, it directly breaks down the shutdown price, and the money earned is no longer enough to pay for electricity.And the weirdest thing is that during the decline process, there are 50 minutes when the Bitcoin network cannot confirm the transaction, and many exchanges cannot operate, so it causes a lot of people to directly blow up their positions.Because the previous king of mining machines S9 is offline, the computing power will be adjusted after 10 days, reducing the difficulty by at least 20%.Mainstream machines have not yet reached the price of shutdown, such as Shenma's M21S and Antmin's T17.
Second, the market remains active.
When miners heard that there were still people collecting mining machines in the market, and some people wanted to dig the bottom, it proved that the market was still hot.You don't know when it's the bottom, thinking that $3800 is already the bottom, but who knows if Bitcoin will fall to $2500 again? The current shutdown price is about $3,800, and after adjusting the computing power, it can be conservatively $3,200.Only when no one in the market wants to buy the machine, and no one wants to enter Bitcoin, can it be the bottom of the market.
Third, reduce the node by half.
At current prices, bitcoin production will be halved until May 11.Halving production would be the biggest mining disaster, as many mainstream models would have to shut down.Now the price of about 5,000 has made many miners lose money, and they can only wait for the flood period to come and the electricity cost is low.If the epidemic affected the bitcoin market, the epidemic is under control in China, but it has just begun in the world, and it is estimated that it will take half a year to a year to gradually improve.So at the time of the halving, the price of Bitcoin will not necessarily rise, there may be a lower price.
So from three points, now the Antminer has been shut down, the market is still about to move, about the halving market, now may not be able to maintain the halving can rise more than ten times.