In the past week, Bitcoin fell from a high of $58,000 to a minimum of $31,000, a decrease of 47%, while ETH fell from $4,100 to a minimum of $1,900, a decrease of 53.7%. The prices of other altcoins can be described as a river of blood, and the situation is terrible.

In this turmoil, countless retail investors lost their money, but for long-term mining miners, the impact is indeed minimal. Since mining adheres to the long-term approach, most of them have developed a strong heart for hoarding coins in a bear market and selling coins in a bull market. The panic caused the overall decline, for miners, it is just an opportunity to hoard coins.

Many people are also worried about whether a bear market is about to come after this crash. In the past, we can see that the market has always turned from bull to bear when long-term currency holders sell in large quantities. This time the plunge was caused by short-term selling by coin holders, while long-term coin holders choose to buy. Currently, the possibility of a bull market due to the plunge is not high, and reports from multiple sources show that the bull market will continue.

For the miners, this washing is a great opportunity. Since the price of the digital currency has remained high for a long time, and the prices of mining machines and hashrate often fluctuate with the price of the digital currency, the cost of mining is also increasing, and the corresponding risks are also increasing. This sharp drop means that the prices of mining machines and cloud computing power will fall, and it is a good time for miners to enter the market.

Only miners can eat up the bull market. Compared with investors in the currency circle, mining and selling coins is a transfer of risk by miners in advance. Miners have output every day and can choose to sell at any time. As long as the bull market remains, the impact of the digital currency decline on miners’ earnings is actually not significant.

At present, the RHY platform has launched mining products such as mining machine leasing and cloud computing power for popular digital currencies such as Bitcoin, Ethereum, Litecoin, Filcoin, and Chiacoin. Moreover, due to the recent sharp drop in currency prices, the price of the product relatively decline. For miners, it is a good time to enter the mining industry and be able to mine at a lower cost.

Just like buying on dips when speculating coins, if you have confidence in the market, the best time to enter the market is to get the most benefits at the least cost during a big drop. If you also want to take this opportunity to increase mining, you can consult with the customer service of the RHY platform.

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