A new study by cryptocurrency company RockX sheds light on the post-half expectations of Bitcoin miners. Accordingly, most of the miners predict that the price will rise to $ 10-12 thousand in the next six months and the hash rate will drop 25 percent after the split.
RockX company, which provides crypto services, conducted a research by talking with leading crypto miners in China. The study included names such as Yu Chao, operations director of F2Pool, one of the largest mining pools in the world, Wayne Zhao, TokenInsight partner, Pandaminer and OXBTC CEO Wilson Guo, and Fan-Xiaojun, Bitmain Asia-Pacific head.
Majority says “10-12 thousand dollars” for Bitcoin price
According to data shared by CoinTelegraph, over 71 percent of respondents believe that Bitcoin regained trust. In addition, 45 percent of the participants believe that the price of Bitcoin will be in the range of 10 to 12 thousand dollars in the next six months, 24 percent will be around 10 thousand dollars with low volatility and more than 14 percent will be over 15 thousand dollars.
25 percent decrease in hash rate
Another remarkable result of the research is related to the hash rate. The miners predict that the hash rate may drop to 90 exhash per second after halving. This figure is about 120 exchhash right now.
Moreover, it is stated that miners in Europe and America may be the most affected by the split, as new mining devices may take time to reach here due to the supply chain interrupted by the epidemic. On the other hand, according to the results of the RockX research, mining activity may continue to intensify in China, since the halfway will coincide with the onset of the rainy season in China.
The largest cryptocurrency with its market value is increasingly approaching halfway. In this event expected on May 12, the number of Bitcoins produced daily will decrease from about 1800 to 900. Thus, less than half Bitcoin will enter the market through newly produced Bitcoins. It is predicted that the hash rate, which is a measure of participation in mining, will also decrease after this decline in mining awards.