Recently, Bitcoin skyrocketed, breaking through 10,000 on June 22, and hitting a new $11,000 in the early morning of June 24. With Facebook's currency, JP Morgan Chase, the New York Stock Exchange BAKKT's bitcoin futures will start testing, major traditional institutions and private retail investors are running into the market, in the past 24 hours, there are billions of funds into Field gold rush.
At present, as of the date of publication, according to the statistics of the whole network of bitinfocharts, within 24 hours, Bitcoin's total network computing power increased by about 22%, and the computing power reached a record high of 63.665E. In fact, the surge in computing power in a very short period of time means the admission of whales. This fund is conservatively estimated to exceed RMB 2 billion. It is only known that this is just a mining market.
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Some people may not know what 22% of the computing power means. It is not difficult to find through mathematical calculations that in the past 24 hours, the increased computing power is about 11.5E, and the bit Continental Ant S9 SE is 16T. Calculated (1E=1000P, 1P=1000T), the newly added computing power in the bitcoin mining market within 24 hours is equivalent to 718,750 S9 SE. At present, the price of this mining machine is 2,650 yuan, which is calculated to increase the computing power. The cost of the legal currency is 718,750*2650, about 1.9 billion.
In fact, the bite mainland's mining machine has long been sold out, the price of the official website mark is difficult to grab, the secondary market needs to be at least 10% higher than the price to buy, not to mention deploying so many in a short time. Mining machines, the cost of mining machines alone will exceed 2 billion, plus some costs such as labor and mines, far higher than 2 billion.
In addition, the highest cost of removing the one-time hardware cost and configuration cost in the mining market is electricity. The power of the ant mine machine is 1280w, and the power consumption of a mine machine is 1.28 degrees per hour, then the calculation power of 11.5E. Every day, only the required electric energy is 718750*1.28*24=92 million degrees. According to the electricity cost of 0.5 yuan per degree, the power cost per day is about 11 million, and the monthly consumption is 330 million. The signing of electricity is generally It is a long-term contract. If we take a three-month period, the cost of signing the electricity bill will be about 1 billion.
On the whole, in the past 24 hours, more than 3 billion yuan of funds have entered the gold market. In fact, this is just a mining market. There is no calculation of the influx of other related industries and secondary markets, but there is no doubt that These all show good expectations for the bitcoin market.
However, when we look back, we think that with so many funds entering the market in a short period of time, will the next market be better? If so, then the admission of these funds will benefit a lot; if not, then these funds may be the last ring of the man. Here we briefly analyze the bullish logic of some of these gold diggers.
From the perspective of external demand creation, there are two main factors.
One: Facebook issues the cryptocurrency Libra, which has three main effects on the currency circle.
1. Add users to the currency circle. Facebook's currency action is by far the largest free publicity for cryptocurrencies such as Bitcoin. One: Facebook has 2.5 billion users; Second: Facebook is the leader in global technology companies. And its current practice is to affirm the current spirit of cryptocurrencies such as Bitcoin, and the future development, which will allow more users to accept cryptocurrency.
2, for the currency circle to lobby ZF. Before and even now, most countries are still in the cryptocurrency of cryptocurrencies, and as the global economic leader, dozens of top institutions in the United States jointly launched cryptocurrency, which undoubtedly put pressure on ZF, a bit forced to reform the currency. This means that this will undoubtedly give the currency circle an increase in the global economy.
3, some people believe that libra will play down the role of bitcoin. In fact, Libra and Bitcoin and other cryptocurrency competitions are completely out of one dimension. Bitcoin does not require any centralized organization to agree or prohibit the operation of the network, and is fully community-based; libra is destined to be formed in various regulatory constraints. The finished product will eventually deviate from the original heart. Regardless of survivability and time, Bitcoin's living conditions and development will be far superior to Libra!
Second: the New York Stock Exchange parent company Bakkt futures will begin testing in July. After one year's preparations at the parent company of the NYSE, it is hard to go through the launch of the Bakkt bitcoin futures. This is the only futures delivery in the form of physical goods, which means under the endorsement of the parent company of the NYSE. It will bring strong demand for Bitcoin positions. To know that the NYSE is the world's largest securities market, it can be said that Bakkt futures are attracting attention.
Although Bakkt Bitcoin futures tested the transaction in July, there is no real open trade, but according to the previously announced test and the real trading time interval is one month, Bakkt officially opened the Bitcoin futures trading in August-September.
If the first two are externally created needs, then the latter two are internal reductions in supply, namely the halving of Litecoin and Bitcoin.
One: The Lite currency is halved. As a person in the circle, it should be understood that the leader of the cryptocurrency market at the beginning of this year was Litecoin, because of its halving in August. At the end of 2018, the Litecoin fell all the way to around $20. The whole market was dead and lacked a rebound. At this time, everyone suddenly realized that the Litecoin would be halved in August 2019. As expected, Litecoin has risen more than 10% for several consecutive days. In less than a month, it has nearly doubled from $20 to around $37, so Bitcoin, Ethereum, EOS, Ripco and other mainstream currencies, Follow the rise and stop the rebound.
After doubling the Litecoin, it continued to rise without a callback. In February, it rose for three consecutive days, and the relative low nearly doubled. The three-day rise in March nearly doubled the relative low; April 2 Days, relatively low, more than doubled; when the price was highest in May, it was close to $130, and the relative low rose nearly 5.5 times. The current price is around $140, and the halving is also driving market expectations.
Second: Bitcoin halved. Regardless of market capitalization or authority, Bitcoin undoubtedly occupies half of the entire cryptocurrency market, so Bitcoin will halve its output in May 2020, which will bring the whole market to the carnival in Bitcoin. In the history of halving two times, there has not been a situation of no skyrocketing. Whether it is from the past experience or the overall supply market, it means that Bitcoin will usher in an explosion in the halving period.
Summary: Although Bitcoin has ushered in billions of funds in the mining machine market within 24 hours, it is sensible at present, because the real market is no matter from external demand creation or internal supply reduction. It hasn't broken out yet, and the mood of this FOMO (fear of missing) should last for a long time!
Source: Ledao blockchain