As part of the plan to combat money laundering and terrorist financing, the European Union proposes to ban anonymous cryptocurrency transactions. After the EU proposal was released, cryptocurrencies fell in response.

On July 20, local time, the last Bitcoin transaction price fell below $30,000, or about $29,800 per coin, the lowest level since last month. Other cryptocurrencies are also falling, with Ethereum and Dogecoin both falling by about 7%. As of 6:29 a.m. Eastern Time on July 20, the entire digital currency market had lost approximately $89 billion in market value within 24 hours.

This also triggered panic in the market. Between 17:00 and 18:00 on July 20, a total of 6061 BTC was transferred from the miner's wallet, with a net outflow of 5,632.428 BTC. I don’t know, whether our miners also sold coins here, that’s really a shame.

Because soon, the price of digital currencies such as Bitcoin and Ethereum rebounded rapidly. As of press time, the price of Bitcoin is about $31397.53, and the price of Ethereum is about $1900.71. This is good news for the cryptocurrency market, but it may be a bit bad for miners who sell coins under $30,000.

In fact, as miners, we rarely care about currency prices, because the essence of mining is to sell coins in a bear market and sell coins in a bull market. As long as the currency price is not shut down, you can mine. Only investors with a stable mentality can take the live currency and sell it at the appropriate price. To a certain extent, investing in mining reduces some risks for people whose mentality is not stable enough.

At present, RHY has launched a variety of packages of BTC and ETH mining products. If you are interested in this, please feel free to contact customer service.

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