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Monday Mining Metrics: BTC Holds $30,000 Through the Weekend, Surpassing ETF False Alarm Pump
Bitcoin Mining Update - 10/23/2023
BTC Holds $30,000 Through the Weekend, Surpassing ETF False Alarm Pump
BTC is up nearly 9% over the past five days, holding steady above the $30,000 mark coming into Monday.
The stage is set for a flurry of institutional capital to enter the market. With the entrance of that capital into BTC, the profitability of Bitcoin mining will surge dramatically.
Difficulty to Hit Another New All-Time High
Difficulty is due to rise by ~3.2% following the previous increase of 6.47%, which set an all-time high in mining difficulty.
The Blockware Marketplace has seen a tremendous increase in volume as miners look to not only capitalize on the recent BTC price pump but also as miners seek to upgrade to the latest and greatest hardware.
The arms race of hash power will continue as we head into the 2024 halving.
Hashprice Bull Run
Despite the rise in mining difficulty, hashprice is down only 11% year-over-year.
The 2024 halving will likely provide one final squeeze to drown out inefficient miners. Those who endure the halved block subsidy will feast during the coming bull market.
An ETF can 10x the BTC price overnight. A 10x in hashrate/difficulty will take years of real-world infrastructure getting built. Getting efficient ASICs online now will allow you to survive the halving, and thrive during the coming bull market.
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We can help you secure all of the top ASICs currently on market; Antminer S19 XPs, S19k Pros, and Whatsminer M50s.
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All content is for informational purposes only. This Blockware Intelligence Newsletter is of general nature and does consider or address any individual circumstances and is not investment advice, nor should it be construed in any way as tax, accounting, legal, business, financial or regulatory advice. You should seek independent legal and financial advice, including advice as to tax consequences, before making any investment decision.