On November 28, 2012, Bitcoin's first halving, the price rose from 13.49 US dollars to 1047.5 US dollars, an increase of 77.65 times; the second halving occurred on July 10, 2016, Bitcoin soared from 620 US dollars to 18,711 US dollars, more than 30 times. For practitioners in the mining industry, the Bitcoin halving is a four-year event. Now that we have entered the third halving cycle, a new round of Bitcoin bull market will come, but no one knows when it will come. Is cloud mining for Bitcoin a good opportunity?
What are the characteristics of the Bitcoin halving trend?
A. The historical highs and exponential growth of Bitcoin prices mostly appeared after the halving.
B. Every time there is a halving, the price of Bitcoin will hit a record high.
C. If cloud mining for Bitcoin bounces less before the halving, it bounces more after the halving. (And it will last longer).
D. There is always a callback before each halving, the first time it was -56.7%, the second time it was -40%, and the 50% callback was already before the halving.
Bitcoin has now completed its third halving. Historically, the first two Bitcoin halvings have spawned a big bull market. However, for mining practitioners, halving is like "crossing the catastrophe". After the "harvest" is reduced, the price of Bitcoin directly determines the two destinies of miners: making money or encountering a mining disaster.
How to make arrangements in advance to participate in this halving market?
There are undoubtedly two ways to start: One is to buy Bitcoin directly in the secondary market. Anyone who has cloud mining for Bitcoin knows that it is easy to buy coins and hard to hoard. Coins bought from the secondary market are usually held in a very short period and cannot be held until the bull market starts. Some users use coins as leverage and directly liquidate their positions. All their efforts are in vain. Moreover, all the purchased coins go through layers of links, and the cost is much higher than that in the initial stage of production.
The other is cloud mining for bitcoin. The traditional mining industry has long since moved from individual mining to mining pool mining. In this evolutionary process, from CPU, GPU, FPGA to ASIC, it is constantly moving towards specialization. Mining opportunities have problems such as high prices, short life expectancy, and difficult maintenance. This raises the mining threshold for ordinary users and cannot participate in this mining bonus. In recent years, the emerging cloud computing power has solved the hardware threshold for users to mine. As long as you purchase a contract on the cloud computing platform, you can enjoy the mining revenue.
Cloud computing power can enable platform users to achieve their goals. Cloud mining for Bitcoin is also the future development direction of cryptocurrency mining, providing more users with choices. Cloud mining for Bitcoin only needs to purchase the cloud mining for Bitcoin generated in the remote data center. For "remote" mining, there is no need to purchase equipment (which may soon become obsolete), no need to endure noisy noise, and no need to worry about hidden dangers. For users, cloud computing power can eliminate the cumbersome steps of mining farms, mining machine settings, and mining noise caused by mining. To put it simply, cloud mining only needs to purchase the computing power generated in the remote data center for "remote" mining, without the need to purchase equipment. This is the "mining" in the new era.
After this halving, cloud mining for Bitcoin will surely usher in a new round of explosion, but instead of speculating coins to make a difference, it is better to mine in the primary market to make steady profits. With the shutdown of small mines, the income of the mine will inevitably increase, so cloud mining for Bitcoin must find a large mining platform, such as OXBTC.