Subsequent Bitcoin Halving Could Not Result in Bull Market, Says Bitmain CEO

Subsequent Bitcoin Halving Could Not Result in Bull Market, Says Bitmain CEO

Bitcoin
October 12, 2019 by The Btc News
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Jihan Wu, co-founder and CEO of Chinese language mining big Bitmain, believes the subsequent Bitcoin (BTC) block reward halving could not result in a bull market, however the coin’s value will develop in the long run. In keeping with Chinese language trade information outlet 8BTC’s report printed on Oct. 11, Wu made his remarks in
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Jihan Wu, co-founder and CEO of Chinese language mining big Bitmain, believes the subsequent Bitcoin (BTC) block reward halving could not result in a bull market, however the coin’s value will develop in the long run.

In keeping with Chinese language trade information outlet 8BTC’s report printed on Oct. 11, Wu made his remarks in the course of the World Digital Mining Summit held in Frankfurt. 

Bulls could also be late this time

Per the report, Wu defined that the crypto market strikes in cycles and this time the subsequent bullish part could not begin after the halving. He’s additionally assured that in a long-term perspective crypto fanatics ought to put money into mining {hardware}, including:

“There are lots of uncertainties, however now is an effective time to put money into crypto mining. If I had been a miner, I’d not cease mining however persevering with to put money into mining gear. We’re at the moment in a short-term correction of value. Having a long-term perspective is important. If bitcoin’s value stays unchanged after halving, the effectivity of current gear have to be improved to stability effectivity and computing energy.”

Lengthy-term perspective

Wu additionally promised that the corporate’s 5 nanometer mining application-specific built-in circuits will enter mass manufacturing in early 2020 whereas three nanometer chips are already in manufacturing. Moreover, he acknowledged that the agency has arrange restore facilities that are anticipated to scale back restore time to a few days by the top of 2019.

Wu additionally confirmed that Bitmain will launch the World Digital Mining Map, a service which can join mining {hardware} homeowners with mining farm homeowners, and the Ant Coaching Academy — its mining coaching service.

As Cointelegraph reported on Oct. 9, Bitmain introduced two new sequence 17 Bitcoin mining machines.





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