ATH season! Will Ethereum break through $2,500? Laptop mining boom reappears

There are two English abbreviations that coin investors must understand in this bull market. One is TVL : Total Value Locked, and the other is ATH : All Time High.

Hello everyone, I am Pepe, a member of the Crypto Atmosphere Group. After a brief period of gloom, we seem to be still in a sustainable ATH season. Bitcoin broke through 60,000 US dollars yesterday and set a new high again. The market is very lively. There are carnival orders from holders, screen-filling posters from the atmosphere group, sighs or confusion from those who missed the opportunity, as well as doubts and bearish voices, so let’s talk about the big picture first in this issue.

It is best not to short a stock that is constantly reaching ATH, or more precisely, don’t actually short it.

Because in the trading world, breaking through the ATH is a very strong market signal, which is likely to bring further gains.

The picture above shows the trend of Bitcoin since it broke through 20,000 US dollars in December last year. It took about 20 days to go from 20,000 to 42,000, and then there was a month of correction and fluctuation. After breaking through the new high again, it rose by almost 40 points in the half month.

We are now around 61,000 USD after more than 20 days of correction and shock. What will happen after this? You can think about it. I think it is still a relatively healthy trend . If it can continue, it is really possible to have a slow and long bull market similar to the US stock market, instead of the previous three cycles of rapid rise and then collapse.

However, the so-called rise is full of risks. No matter how strong the consensus is now or how much institutional funds support it, Bitcoin is still an asset with relatively high volatility risk. We will not talk about the rise. It can still go up a little after ATH. If it is followed by a volatile decline, for those who are more price-sensitive, one thing they can pay attention to is support, such as MA20 and the support of the trillion-dollar market value, which is still relatively strong. The other is whether it can continue to break through ATH in the short term after the volatility. We can see that the first two pullbacks basically recovered in about 1 month.

After talking about Bitcoin, let’s talk about Ethereum. It feels like the whole world is waiting for its ATH. After all, it has been 22 days since it broke through 2000U on February 20. Judging from the big brother’s steady upward trend and the demand for Ether, doesn’t it feel like it’s about to perform?

I see some overseas Vs are also beginning to predict that ETH will hit $2,500 next week:

Let us wait and see. Today I would like to mention the current market status of Ethereum, because I have also seen that many friends have been configuring ETH in their long-term positions.

As the price of ETH increases and remains at a relatively high level for the past month, the threshold for mining ether is decreasing. For ordinary investors, in addition to gains from trading, it seems that personal graphics card mining can also generate returns.

There is a river between the cryptocurrency circle and the mining circle. For individual investors, they usually consider purchasing directly on trading platforms rather than mining. This is mainly due to the fact that the current mining industry is becoming more and more professional and centralized. As for computing power leasing, the quality varies greatly, which basically means that retail investors are excluded.

However, one thing that needs to be noted is that although both Bitcoin and Ethereum are POW mining, their underlying algorithms are different . In computer professional terms, one thing that needs to be considered in the Bitcoin computing power competition is the computer's core graphics frequency, which is relatively easy to improve through research and development. Therefore, the performance of mining machines has been stronger than the previous generation in recent years, from the earliest CPUGPU mining to professional ASIC mining machines.

During Ethereum mining, memory needs to be read, and memory frequency will be an important indicator of mining capacity. However, this hardware technology has not been improved in recent years, so Ethereum has always been a graphics card mining machine. As prices increase, and the DeFi fees have increased the "salary" of miners, individuals using graphics cards to mine may not be able to compete with mining farms in the past, but now they can also generate some decent income.

Graphics cards are hard to come by, so many people are eyeing laptops with graphics cards. Even mining farms are using laptops for mining:

As for this income, the following figure is a reference given by the author on Zhihu (it may not include the electricity cost, but the income can cover it):

According to some computer players, a graphics card like the 3070 may pay back the investment in 3-4 months . In addition, I have also seen feedback from friends that they used their old graphics cards at home to mine, making about 1,000 yuan a month. This also shows the exaggeration of the prices and premiums brought about by DeFi.

I would like to mention this today to reflect the current market situation. If you have a graphics card at home or need to buy a laptop, you can try mining.

In fact, everyone can get mining income, which is enough to show that the market is crazy. From a historical perspective, it is not a particularly good signal, but the good thing is that it may allow more people to get in touch with Ethereum, such as gamers. There are quite a few college students in this field. They bought machines. Because of the current premium of graphics cards, they may also consider mining Bitcoin to make some money to recover. If ETH continues to rise, this area may become even hotter. I have found several Zhihu posts introducing mining and laptop models, and many people are paying attention to them.

However, even if we consider graphics card mining as an investment channel, there are still certain risks . It is best to have actual needs, such as having graphics cards at home, or using it as a discount to buy a computer or a mobile phone.

One of the risks here is obviously the price. Mining is so hot because the price has risen so much, and the high gas price of Ethereum is still a bit too discouraging for retail investors to trade.

In addition, miners have been clamoring for EIP1559 before. This 1559 is expected to be launched in July, which may reduce the miners' income by then (it is only possible, if the network is still congested, miners will still have bidding income).

And recently because of this dispute, there seems to be a voice in the community that calls for an early transition from POW to POS, which has also been recognized by Vitalik Buterin. The transition to POS was originally expected to take place in 2022. If we don’t know in advance whether it will be this year, miners also need to pay attention to the dynamics of the Ethereum community.

Conclusion

Today's content is almost here. I am not particularly familiar with specific laptop mining. Friends who are interested can check more tutorials. If you want to mine by yourself, you may need to do some power consumption settings. Finally, I will throw a few related links on Zhihu for reference:

https://zhuanlan.zhihu.com/p/355955385

https://zhuanlan.zhihu.com/p/351299333