Bitcoin has dropped over $3400 due to the news coming out of China. The bottom line is that People’s Bank of China said all crypto-related activities are illegal.
This is going to create huge opportunities in the market.
Most of the ASIC miners are produced in China so it is going to be very interesting to see what happens to companies like Bitmain.
We also expect GPU prices to drop here.
We will continue to mine.
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If I end up getting housing I can't wait to plug in a computer and get to increase my cryptocurrency holdings. Yep that's right free electricity means that I could be mining as well. That would definitely help us.
Good luck with this. I really love mining.
I love both kinds of mining not only the mining in the dirt but also I can't wait to check out the digital mining.
Good ridden to China, I wish they would just stay out of it from now on. Fine China done, their people are in hot water because they are gonna be stuck out in the cold, and out of BTC. losers.
This is going to put China way behind. I don't think China is going to stay out of crypto for long.
I hope they stay out forever, so they can just stop needing to ban it an quit manipulating it. I think they are out forever, unless they are lying again. I thought we have gone through this same type of news over and over before with China. I remember 2018 they were banning and then they came back, so you're right it's possible they come back again, after they secretly buy their dip, to pump the price once more, so they can leave again. Vicious cycle of manipulation. Thanks China!!
It has happened that no matter how much China thinks of closing it, it cannot be stopped. Earlier too there used to be a lot of news and for a while the panic spread among the people and again they run in the same position in which she was. This has happened many times in India too, but in the end neither stopped nor accepted it. That's why no user should panic, I feel that now bitcoin has gone down, so there is a good chance to buy it in the deep.