Bitmain CEO Doubts Bitcoin to Lift Off After Halving
Shutterstock
Main page News, Bitcoin, Mining, Crypto Market, Cryptocurrency
Hot topic
12 October
148 148

The Head of the largest cryptocurrency mining manufacturer Bitmain, Jihan Wu, has expressed skepticism on the possible bitcoin bull market after the halving, NEWS8BTC reports.

However, Wu remains positive about the long-term trend of Bitcoin’s price.

Even though there are many uncertainties, Bitmain CEO believes right 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. Having a long-term perspective is significant. If bitcoin’s price remains unchanged after halving, the efficiency of existing equipment must be improved to balance efficiency and computing power," Jihan Wu added.

Even though there is uncertainty on the bitcoin's future in the middle-term perspective, the Chinese mining devices manufacturer earlier said it will launch two new products to the market before the next Bitcoin halving, which is scheduled for May 2020.

In the meantime, Bitmain will soon launch the first platform that connects mining hardware owners with mining farm owners with the help of the World Digital Mining Map (WDMM).

Previously iHodl reported that the Chinese cryptocurrency mining company Canaan Creative intends to go public in the U.S. in November this year.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

Read also:
Please describe the error
Close