Analysts and investors alike have long looked towards Bitcoin’s halving as a potential catalyst that could spark the next massive parabolic rally and usher in a new era of growth for BTC and the aggregated crypto markets.
It is important to note, however, that one prominent figure within the Bitcoin mining industry is now noting that miners should prepare for the possibility that the halving will not propel BTC’s price higher.
Bitmain Founder: Now is a Good Time to Invest in Bitcoin Mining
Jihan Wu, the co-founder and CEO of Bitmain, spoke about the upcoming Bitcoin halving during a speech at the World Digital Mining Summit in Frankfurt, Germany, in which he explained that he believes now is a good time to invest in crypto mining, while also noting that the current correction that Bitcoin is caught in is “short-term.”
“There are many uncertainties, but now is a good time to invest in crypto mining. If I were a miner, I would not stop mining but continuing to invest in mining equipment. We are currently in a short-term correction of price,” Wu noted.
The correction that Wu is referring to is likely Bitcoin’s recent drop below $10,000 that sent its price reeling down…
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Author: Cole Petersen