In the early hours of this morning, cloud mining ETH broke through a new high again, with a price high of $3605.6, which once again mobilized the market boom. The consensus that the world will be ETH mining in the second half of the bull market has almost become the current consensus of the whole people, and investors have also fully shifted their interest to cloud mining ethereum 2021.
Since entering May, ETH mining has become a leader in the cryptocurrency market with a more prominent rise. According to statistics, the total market value of cryptocurrencies rose by 6.8% from May 1st to 6th. As of May 6, the total market value has reached 2.37 trillion US dollars.
The market value of cloud mining ethereum 2021 has continuously surpassed Wal-Mart, Nvidia, MasterCard and other well-known companies, approaching Samsung, and rushed into the top 17 global assets.
During this period, Bitcoin entered a consolidation period after it rushed back, and ETH mining walked out of an independent market completely different from Bitcoin.
This shows that ETH will continue to maintain sufficient upward momentum and lead the rise.
The market has realized that the value of ETH mining is fundamentally underestimated. Although it has risen by 856% since October last year, in the last bull market, the highest ETH/BTC exceeded 0.12, and the current number is only 0.06. On the premise that cloud mining ethereum 2021 is basically oriented towards good, it is expected to launch an impact on this number.
More importantly, driven by Ethereum’s repeated record highs, cloud mining altcoins and established mainstream currencies have begun to rise collectively. This is the largest cloud mining altcoins outbreak since the start of this bull market, with multiple data on the chain. Shows that Ethereum may lead a bigger copycat season!
Altcoins skyrocketed collectively
In June last year, under the expectation of ETH2.0's public chain performance expansion, a new cloud mining altcoins’ bull market based on the Defi ecological application broke out, which became an important catalyst for this bull market.
However, just the outbreak of new application projects cannot be used as a measure of the development of the bull market. It can only be used as the underlying logic to increase the application value of the bull market.
Among the cloud mining altcoins, the first one that broke out was Dogecoin DOGE, with a hundredfold increase during the year, which opened the first round of cloud mining altcoins soaring.
Following Dogecoin, established mainstream assets such as ETC, Litecoin, and BCH performed well.
Under the effect of Musk, Dogecoin has risen again from May 1st, breaking through a new all-time high, and doubled within 5 days, reaching a maximum of $0.695. Since the beginning of the year, the price of Dogecoin has risen by more than 124 times. As of May 6, the total market value of Dogecoin is US$80.3 billion, surpassing XRP and ranking fourth in crypto assets.
The news of ETC's rise continued to swipe the screen, breaking through a record high for five consecutive days, reaching a maximum of $179.99, an increase of more than three times. In the past month, ETC has risen from US$20 to the current US$100, an increase of over 400%. Since the beginning of the year, ETC has risen nearly 20 times.
The skyrocketing of ETC mining, in addition to the existence of supplementary factors, many people believe that it may be the expectation that cloud mining Ethereum 2.0 will go online, causing a lot of computing power to flood into ETC, which in turn drives the price of ETC.
From May 1st to May 6th, BCH rose by nearly 40%, the price exceeded $1,300, and the market value returned to the top ten. CoinMarketCap data shows that BCH's 49% increase in the past 7 days is second only to Dogecoin among the top 15 crypto assets by market capitalization.
LTC also continuously created new highs, rising to a maximum of 372.86 US dollars, with a 32.3% increase in the past 7 days.
In addition, the cross-chain, one of the biggest concepts of the bull market, has recently performed well. Polkadot DOT re-opened its upward mode after a long sideways trade. Although it did not break a new high, it stood at a high of $40;
Defi's representative project, UNI, has also performed amazingly recently, breaking a record high, with the highest price reaching US$44.9.
The simultaneous large-scale rise of new and old altcoins is the first time since this bull market has appeared. The pattern of the bull market once again has a new development trend, and the large-scale prosperity of the bull market has begun to appear, which means that the bull market may enter the middle and late stages.
The large-scale outbreak of altcoins can be seen as an important manifestation of the bull market entering the middle and late stages.
Cloud Mining - Has the bull market reached its peak?
The collective take-off of new and old altcoins gave us the first time to see the full prosperity of this bull market, and the flying of ten thousand coins has always been one of the signs that the bull market has begun to enter its climax.
Therefore, there is no doubt that the bull market is welcoming the climax. Litecoin mining pool CEO Jiang believes that the bull market has completed 60% of the progress.
At this stage of development, the vast majority of investors have obtained good returns from the bull market, and many investors have taken top-flight as their current main strategy.
However, Jiang said that the current bull market progress is about 60%, but the remaining 40% is the most profitable part of the bull market. Those who say not to eat fish tails will find themselves only eating fish heads. You know, the bull market is worse than not being able to eat fish.
Whether it is the law of historical development or the trend of bull market prosperity, the remaining second half is often an important time node for the market soaring, and the rate of increase will far exceed the previous data.
There is a famous Chinese saying: One who travels a hundred miles is half 90! This means that the last ten steps are the most critical.
Therefore, the current market development pattern tells us to be prepared to escape the top and lock in profits. But you can also leave some space, so as not to take the final soaring bonus.
Judging from the current market performance, traffic has indeed begun to run into the market, and there will definitely be a wave of growth in the future.
Jiang said that the traffic is running into the field, and it has increased by several hundred percent in a few days, which is simply unheard of for them!
Regarding the current market situation, Jiang also gave a very clear reminder: The last 40% of the bull market is the main increase and the main meat-eating time. Before the final vertical take-off, all the "looks huge" gains in front became a straight line.
2. In the bubble, some people become smarter and some people become richer. Comparing the length of the bull market and the amplitude of the vertical take-off in the previous two rounds, it can be seen that the vertical take-off of this round of bull market has not yet begun.
3. The previously predicted bull market escape plan and time point are: the expected time for the end of this round of bull market is October 12, 2021 to May 20, 2022, and the average is January 23, 2022.
No matter how the ETH mining bull market has developed to this stage, there is already enough room for upside to consolidate our profitability. No one should think that they have the ability to sell at the highest point. As long as they meet their expectations, they can ship in batches to ensure. At the same time that the profit is made, it is also guaranteed not to miss the final bonus. The most important thing of cloud mining is not to be too greedy!