"Weekly Mining Machine Market Observation" latest market analysis, when will the bull market end in the Year of the Ox?

At the end of 2020, the digital cryptocurrency market remained hot. Since the fourth quarter, Bitcoin has led the way and broken market value records one after another. At the beginning of 2021, Bitcoin reached a record high. Although it experienced several short-term small fluctuations, it rose above $60,000 on March 13. Friends who have experienced one or two rounds of bull and bear markets should also smell some unusual signs in this bull market.

At the same time, what is more noteworthy is the changes in the mining machine market. This week, Kong Meng will meet you with his new live broadcast program. As the first mining machine asset trading platform VeryHash, all the trends in the mining machine market are closely related to it. In this issue of "Weekly Mining Machine Market Observation", Kong Meng will share the latest official data and interpret the information behind the mining machine data.

1. What stage are we in this bull market now, and how far will the bull market go?

At present, the market is in the transition from the first half to the second half of the bull market, and we can also say that we have entered the second half of the bull market. According to the approval of the Federal Reserve's $1.9 trillion bill, the decline in market expectations is the second half of the bull market, but at least the next year is a bull market, which means that market expectations are still at a high point.

This year, Bitcoin has reached a new high, and mining machines have also experienced a large increase. Moreover, this year is a very special market, with a particular shortage of upstream chips. We compared the data reports for more than four weeks from February this year to date, and the results of each week are that mining machines outperform the price of coins. Moreover, mining machines are now in a seller's market. It is difficult for people to buy mining machines now. Only futures can be bought, not spot goods. In addition, the market expectation of futures will continue to grow.

2. Interpretation of mining machine data

BTC Miner

As of now, the increase of Bitcoin compared with last week is: 17.07%. Taking S19 as an example, the profit of holding mining machines this week is 18.69%, which is one percentage point higher than the BTC price.

Here, it should be noted that the BTC price experienced a correction from US$58,000 to US$54,000 for a period of time, and each mining machine also experienced a correction from US$63,000 to US$61,000.

Until the BTC price breaks through a new high, the mining machine’s breakthrough will be even greater, and the mining machine’s increase will be more obvious than the coin price. The seller’s market also means that the market has higher expectations for the mining machine price.

Eth Miner

This week, the price of Eth rose by 7% compared to last week. The profit rate of holding A10Pro mining machine this week is: 36.82%. It can be seen that Eth mining machine is more speculative than BTC mining machine, outperforming the profit space of holding coins by about 4-5 times. The current output of Eth mining machine is also very tight.

As a platform focusing on mining machine asset transactions, VeryHash has developed many products around computing power to promote mining machine transactions. As a new live broadcast program, Kong Meng also shared the original intention of establishing VeryHash.

“We hope that this market will return to its essence of free trading. We believe that this is a highly free market where every user can enjoy the benefits brought by mining machine trading.”

VeryHash has a very obvious advantage for retail investors. No matter how much computing power a user wants to buy, they can hold it through VeryHash. They can enjoy the benefits for as many days as they want. VeryHash focuses more on the trading freedom of this market.

We emphasize the flow of computing power, and we also welcome more market makers to join us to provide more liquidity for this market.

Mining on VeryHash allows users to buy and sell anytime, anywhere. Second, users are guaranteed stable mining income. Users do not need to worry about risks such as power outages at the mines, as the VeryHash platform insurance service is used to hedge these risks.

Finally, in order to bring more trading business to mining users, more trading strategies will be provided in the future to allow more users to make money through mining machine transactions.

Kong Meng gave detailed answers to some questions users had about the platform.

Q: What is the current progress of VeryHash’s platform coin?

We have developed a decentralized computing power finance, which is a pure DEFI project. It uses blockchain technology and mining machines as the underlying to provide decentralized financial services for the mining industry. With the creation of the service platform and the improvement of various functions, VeryHash platform coins will be issued on the platform. It is currently in the early stage of technical development. After completion, there will be a wave of preheating, and we will also synchronize the latest progress to everyone in a timely manner.

veryhash.com

Q: When will the Eth mining machine be launched on the platform?

There are Eth mining machines in the background of VeryHash, but there is no supplier providing Eth liquidity at present. We are also actively communicating with the suppliers to try to launch the transaction of Eth mining machines as soon as possible.

Q: When can the mining machine auction be conducted 24 hours a day?

We are striving to cooperate with external mining machine manufacturers to sell mining machines through mining machine auctions. The mining machine backend will enter the liquid market, and we will work with suppliers to ensure a steady increase in computing power supply in terms of functionality, and increase the time and frequency of auctions.

Q: How to use the staking function on the VeryHash platform?

Our platform provides a lending function to help users conduct leverage operations. We have integrated the lending services of the market to create a lending product. The biggest advantage of our platform's lending is that you can borrow and repay at any time, while other lending products have a cycle. We also hope that users will have more freedom of choice.

In addition, there is liquidation protection when using loans on the VeryHash platform. After the liquidation, you can replenish your position and we support the redemption of users' assets.

Q: Has the chip shortage affected the price of mining machines and coins?

This is an established fact. According to our weekly research reports, the increase in mining machines has completely outperformed the price of coins.

In December last year, we purchased a batch of mining machines, and the price has increased by 200% so far. At the same time, the price of the currency has less than doubled. The shortage of mining machine chips and the shortage of mining machine supply are one of the reasons for the high price of mining machines. The profit of buying mining machines now must be much higher than the price of the currency.

In this live broadcast, Kong Meng shared a lot of content about the mining machine market. You can watch the live broadcast through Kong Meng’s Sina Weibo (Kong Meng VeryHash). "Weekly Mining Machine Market Observation" is a fixed column launched by the VeryHash platform, which will share mining machine-related knowledge with more people in each issue.

Now add VeryHash customer service WeChat (WeChat ID: veryhash) to participate in the purchase and sale of mining machines, and you will also receive new member red envelopes and trial gold and many other gifts!