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Tuesday

22 October 2019

Bitmain CEO: Bullish Behavior Unlikely Following May 2020 BTC Halving

Bitmain CEO: Bullish Behavior Unlikely Following May 2020 BTC Halving


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Stationed in China, the company is facing the threat of shutdown given that China has long considered a ban on crypto mining given the alleged hazards its poses to the environment.

During that time, mining equipment sales for the company were at an all-time low, as many were concerned about bitcoin’s falling price and interest dropped significantly.

It’s probably safe to say that given the company’s long and arduous journey, its head executive Jihan Wu knows a thing or two about crypto and what it will do in the future.

However, he does mention that the price could potentially grow “long-term.” He suggests that the cryptocurrency’s price maneuvers in “cycles,” and that perhaps mining hardware might make a better investment than the actual currency itself.

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