Since this year, the energy consumption problem brought by mining has been widely concerned worldwide, and the cryptocurrency price has experienced a roller coaster ride under the background of regulatory "siege" and the overall poor performance of the U.S. stock market.
Recently, bitcoin price tested the pressure of $44,000 in the rebound and had the intention of stabilizing, which shows that the bottoming funds in this wave of decline are quite strong, but the big risk has not yet changed.
Cryptocurrency speculation is risky
In recent years, blockchain technology has been wildly sought after, and virtual currencies have become the object of many people's investments. However, it has been the industry consensus that speculating in coins is risky, and there is a saying in the cryptocurrency world that goes, "One day in the cryptocurrency world is like ten years in the real world." Cryptocurrencies can create the myth of overnight riches, and can also make investors lose all their money.
The biggest reason for cryptocurrency price volatility is the instability of the value. Much of the value of cryptocurrencies stems from the trust of the community, and much of that trust depends on national policies, but countries are still not showing a more consistent attitude toward cryptocurrencies. The uncertainty of national attitudes makes it difficult for retail investors to predict the market trend of cryptocurrencies.
But on the other hand, although cryptocurrencies cannot be used as mainstream trading currencies, they are not controlled by central banks and can be used as a decentralized asset to diversify inflation risk. In an era of global monetary abuse and ultra-low interest rates, bitcoin has become akin to "digital gold". In the long run, the current use of crypto by various institutions is the most important determinant of cryptocurrency prices.
Industry investors believe that with the development of blockchain technology, the concept of decentralization is deeply rooted, digital transactions and systems will dominate the world, and cryptocurrencies have unlimited possibilities.
Mines are bullish on low layout opportunities
Even though cryptocurrency investments are risky and the directionality of trends often overshadows the disorderly nature of fluctuations, as most views agree that cryptocurrencies such as bitcoin and Ethereum still have huge appreciation potential in the future, their wealth-building potential has attracted an endless stream of investors.
Of course, due to the higher investment risks, investors have sought more secure ways to invest. From the perspective of participants, more and more institutional organizations, are becoming interested in cryptocurrency mining and want to enter this market. At this stage of development, the mining industry has become highly centralized, scaled and standardized.
In addition to the high investment required, there are also various unknown risks to deal with. In response to this year's energy consumption storm and regulatory storm, the person in charge of the mining platform RHY admitted to the reporter that the platform has been hit by a huge blow, on the one hand, encountering a shortage of power supply in the Middle East and a power outage for 4 months; on the other hand, the platform shut down 11 mining farms under the influence of China's regulatory policy. Even so, "RHY development path has been determined, whether in the bear market or in the bull market, we will follow our own rhythm to develop and move forward steadily."
He believes that it is a good time for mines to lay out at a low level, and RHY has been strategically laying out globally. "This year, RHY will open up a new model to allow miners to participate in the construction of global mines and become shareholders of the mines. Through such a model, it will enable big miners to save the risk of building their own mines and reduce the cost of trial and error."
The reporter learned that RHY plans to jointly build mining sites with miners, continue to expand mining infrastructure in the United States, Canada, Kazakhstan, Paraguay, Russia and Norway at the same time, totaling 168 MW, and prepare to relocate more than 100,000 machines to start globally in order to make the platform's arithmetic power distribution more balanced and enhance the ability of the platform and miners to withstand risks.
"With cryptocurrency prices fluctuating and the global layout of the mining industry being reshaped, there is currently the best opportunity to invest." The chief said.
Official information shows that RHY has been laying out mining since 2017, has global procurement capabilities, is able to buy mining machines at a price lower than the market price, and can continue to give users better-than-market product prices and solid mining returns for the underlying assets such as mining machines and mining farms. "In this current time, we may be more cautious, more users choose RHY, we will take more responsibility, and hope to provide the most reliable service for customers in return for everyone's trust."
