Investing in Long Term Perspective
Bull market will not reappear in any nearest future, Jihan Wu says. The CEO of Bitmain is sure that when the next block reward halving happens it will not end up in a bull market. He also expresses a strong belief that the price of BTC in a long term perspective will show susbtential growth. Wu is known by his prognosis and interesting statements. This time his speech on the event is not an exception.
These remarks were made on the World Digital Mining Summit around the first week of October. 8BTC provided the information below. The Summit is taking place in Frankfurt and attracts a lot of investors. However they made a lot of promising statements.
Bulls, you are late
The market of cryptocurrency develops and exists in repeating circles. Wu says during his report that this time there’s a chance that the halving phase may not precede the bullish one. Another significant point that Wu believes people interested in mining should concentrate on investing in the equipment first.
For the long term perspective mining hardware investment is more profitable. Wu is sure that in spite of uncertainties investment in mining is always a good idea. He also points out that if he were a miner he would continue equipment upgrade as far the company is in price correction stage. While talking about the crypto industry a people should use strategic thinking first.
Looking at the situation in long term perspective
As a Bitmain CEO J. Wu also announced that the mass market will see five nanometer mining application-specific integrated circuits, produced by the company already in 2020. The company will also empower the repair centers where they will reduce the repair time in half and it will be 3 days already in 2019.
According to Wu, another project is on the way and the members of crypto community will surely appreciate it. He was talking about a new World Digital Mining Map. As it was stated before, this service will help miners communicate and collaborate.