Bitcoin mine rectification and full liquidation, next year will be a disaster for the mining industry?
Hello everyone, I am Nakamoto Curry
The development of the mining industry has attracted everyone's attention these days, let's discuss it today
On December 24, a "Notice of the People's Office of Ganzi Tibetan Autonomous Prefecture on Holding a Symposium on the Clean-up of Bitcoin Mines in the State" circulated on the Internet began to spark heated discussions. The document shows that with the consent of the state government leaders, the Ganzi Tibetan Autonomous Prefecture People's Government Office decided to hold a state-wide Bitcoin mine cleanup symposium on the morning of December 25.
Since then, the notice has been interpreted as "Sichuan Ganzi will completely clear the Bitcoin mines", which further caused a certain degree of panic. According to a report released by Coinshares at the end of this year, China accounts for 65% of the world's mining share, of which Sichuan Province accounts for 54% of the world.
On December 26, we learned from the Economic and Information Department of Ganzi Prefecture that the symposium originally scheduled for December 25 will be postponed to December 27. The purpose of the meeting is only to collect opinions from all parties on the clean-up work of the Bitcoin mine.” It's definitely not a one-size-fits-all shutdown."
Benefiting from the rich hydropower resources in the territory, Ganzi Prefecture is famous in the mining industry for its relatively low electricity costs, and is known as the "World Mining Capital". BTC mines, which consume a lot of electricity, are like a fish in water here and benefit endlessly.
Due to seasonal factors, Ganzi Prefecture is currently in a dry season, which means that Ganzi Prefecture, which mainly relies on hydropower, has entered a period of shortage of power resources. Based on this, many Bitcoin companies have moved out of Ganzi Prefecture and moved to areas where thermal power is concentrated.
On December 24, the Ganzi Prefecture Government Office issued a press release titled "Our State is Actively Doing a Good Job of Power Conservation in Winter Peaks", which mentioned that "the work plan for cleaning up and rectifying Bitcoin mines in Ganzi Prefecture" should be issued to regulate power companies. Direct power supply behavior", the focus of this measure is to ensure the electricity consumption of people's livelihood.
And on December 26, it was reported that the official website of the Ganzi Prefecture Government in Sichuan was suspected to have deleted the document "Our prefecture is actively doing a good job in winter peak power protection work". Its ambiguous attitude can not help but make people imagine.
There is no doubt that 2019 has been a pivotal year for the mining world, with many landmark events already taking place this year.
Earlier, on April 8, 2019, "mining" was listed as an eliminated industry, belonging to the category of "backward production technology and equipment", and should be "eliminated immediately". This incident occurred during the period when the three giants in the industry (Bitmain, Canaan, and Ebang International) were seeking to go public, which severely affected the morale of the industry. On November 6, the National Development and Reform Commission announced the latest industrial structure catalogue, and virtual currency mining was removed from the eliminated industries.
On November 20, 2019, Canaan was successfully listed, and the battle for the first share in the mining industry finally came to an end, which is considered a milestone in the history of digital currency.
And now the meeting held by the government of Ganzi Prefecture has made the development of the mining industry confusing again.
market strategy
market strategy
Bitcoin continued to fluctuate in the intraday, and the price rarely broke the calm early this morning, but it was unsustainable. After rising around 7,400, it fell back to consolidate around 7,200. The market launched an upward attack during the consolidation, and the bulls are making efforts, but the market sentiment is not high, otherwise it will be difficult to form a big climate in the market demand. At present, from the K-line shape, the daily line and the four-hour level Bollinger Bands shrink, and the moving average system is flat and stalemate. In this case, the choice of direction should wait for the main force to enter the market. The short-term support in the downward direction focuses on 7150/7080, and the short-term pressure in the upward direction focuses on the 7280/7340 position. Suggested references for Bitcoin short-term operations:
1. It is recommended to enter an empty order around 7280-7340, stop loss above 7400, and target around 7220-7150;
Don't worry about having no confidants on the road ahead, but there are friends on the investment road. I am Nakamoto Curry (BTC6668888), and I am willing to stand with you through thick and thin!
risk warning
The points involved in the article are for reference only.
Market views are time-sensitive and will be adjusted at any time due to adjustments in disk operations.
Investment is risky, and you need to be cautious when speculating in coins.
If you want to invest in Bitcoin but haven't found an effective profit method, or you have stockpiled spot but don't know how to use contracts to hedge risks, or you like Nakamoto Curry's humor, welcome to communicate.
Don't worry about having no confidants on the road ahead, but there are friends on the investment road. I am Nakamoto Curry (BTC6668888), and I am willing to stand with you through thick and thin!
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