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Chinese crypto miners anticipating new bitcoin buyers following the halving

Chinese crypto miners anticipating new bitcoin buyers following the halving
  • According to a poll conducted this week, 57% of Chinese miners are expecting a huge influx of new buyers for bitcoin in the near future.
  • The crypto services company claimed to have polled around 42 prominent bitcoin miners and members of the Asian mining community.

According to a poll conducted by RockX earlier this week, 57% of Chinese miners are expecting a huge influx of new buyers for bitcoin in the near future and over the next six months. 

The cryptocurrency services company claimed to have polled around 42 prominent bitcoin miners and members of the Asian mining community. Over 71% of the respondents believed that the market has regained its confidence in the leading crypto asset. On top of this, 45% of respondents believe that in the next six months, the price of bitcoin will be somewhere between $10,000 and $12,000.

The aforementioned 57% of responders believe that the house rate for BTC won’t have a significant change of following the upcoming halving event. This isn’t unusual as it falls in line with what a lot of the crypto community is thinking at the minute.

Alex Lam, the CEO of RockX says that because of the wet season in China, domestic mining farms could be able to take advantage of the cheap hydropower and further their operations with less efficient machines.

He further highlighted that mining farms in the United States, Europe and Canada could be able to face out all the machines following the event and even predict that the hash rate for BTC could fall by about 30% a month following the halving.

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

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