Update the overall view and plan for the market in the coming time
View will be for medium and long term. Plan will have a short-term plan. 🔸 Views: 🔸 1/ Currently we are still in the bull market and in the past 2 weeks the market has adjusted => cooled down. This cooling down is a good sign for the market in general because the market has been increasing hotly for 6 consecutive months. If it continues to increase as hotly as it did 6 months ago, the game will be too easy, leading to the bull run story of the whole cycle possibly ending sooner. This cooling down is simply for the market as well as whale/OG/MM to collect back what people have pumped out to you over the past time and create a price base for more sustainable growth.
Before $BRETT was announced to be listed on Binance Futu, a $BRETT holder had pre-deposited, so Bybit dumped it. This wallet had collected $BRETT since the end of February with 200$ and sold it continuously over the past few months, earning tens of thousands of times profit.
Mining company BitFuFu announces Q2/2024 financial report
The company's average $BTC mining cost in Q2 this year was $51,887, up from $19,344 in the same period last year. The company's total capacity increased by 62.5% to 24.7ETH/s.
Now that $BTC has dropped to 51k$ , many miners will disappear =)))))
IMF Proposes Tax on Crypto Miners, Data Centers to Reduce Carbon Emissions
Raising electricity costs will be more difficult for miners. Either they have to panic sell to get rid of weak miners. Or they will keep selling until things get easier.