BTC and eth recapture the lost land! Leading the market recovery? Encryption will enter the "ice age"!

After the brutal collapse of the encryption market , The value of bitcoin and Ethereum has decreased 30% above , The price falls to 2020 A level never seen since , The encryption market continues to howl .

Latest data , Public bitcoin mining companies are 5 Sold... In January 100% Bitcoin production , Before that, it was usually 20-40%. stay 2022 The first four months of the year , The public bitcoin mining company sold 30% Mining output of ,5 The month grew 3 times , expect 6 The month will grow further . Public bitcoin miners account for only half of the total computing power of the network 20%, But their behavior often reflects the emotions of private miners .

If bitcoin miners' profitability fails to improve , In order to meet the continuous cost or deleveraging, bitcoin will be sold continuously , This situation may continue until the third quarter of this year . at present , The soaring global power costs and the overall downward pressure on the encryption market are both hurting the profitability of encryption mining enterprises , Miners are trying to increase profits by cutting costs and selling some bitcoin .

Besides , Bitcoin miners also face tremendous pressure from creditors and other counterparties , The miners who obtain funds through highly leveraged borrowing will even trigger a larger chain reaction , Leading to the bankruptcy of cryptocurrency lending service providers and hedge fund companies .

For now , After peaking last week , Traffic from bitcoin miners to exchanges has fallen sharply , This means that the selling pressure from the miners began to ease , There are now some signs of recovery .

In the past week , Bitcoin is up 10% above , The current transaction price is about 21000 dollar , Ethereum soared 19% Above to 1200 About $ . Besides , In the top 30 Cryptocurrencies are recovering at double-digit percentages .

before , Exchange traded funds （ETF） provider ProShares Announced a product , Allow investors to bet on bitcoin , Let investors profit from the falling price of bitcoin . Digital asset management giant Grayscale CEO of Michael Sonnenshein Take this news as a positive signal of the increase in bitcoin adoption rate . However , Co creator of Ethereum Vitalik Buterin Once again attacked the highly discussed bitcoin stock flow pricing model （S2F）, As a “ harmful ”, It seems that bitcoin lacks trust .

summary

For now , Although bitcoin and Ethereum regained some of their lost land 、 Showing signs of recovery , But the encryption market still faces many unfavorable factors , The deep crisis of established exchanges and investors' concern about inflation may bring more selling pressure , There still seems to be no sign of relief , This “ Add to the cold winter ” Maybe not for a while , May enter a long-term “ ice age ”, There's no life .