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Survey: Prominent Chinese Miners Anticipate New Bitcoin Buyers Post Halving

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Survey: Prominent Chinese Miners Anticipate New Bitcoin Buyers Post Halving

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  • Survey reveals that most of the prominent miners of China are positive on the increase in the percentage of new Bitcoin buyers in the near future.

The much-awaited halving event is around the corner, and several Chinese miners are anticipating an increase in new Bitcoin buyers by the end of this year. A poll conducted by RockX, a digital assets’ services firm, revealed that more than half of the respondents of the survey believe that the market will see the ingression of new Bitcoin traders within the next six months.

As reported on 4 May 2020, 42 notable Bitcoin miners and members of the Asian mining community were the subject of the survey, including F2Pool Chief Operating Officer Yu Chao, TokenInsight partner Wayne Zhao, Pandaminer and OXBTC CEO Wilson Guo and Bitmain APAC head of sales Fan Xiaojun.

More than 70% of the respondents are of the opinion that the market trust in Bitcoin has recovered. 45% of the miners expect the BTC price to range between 10,000 USD and 12,000 USD, while 24% think that it will stay close to 10,000 USD with low volatility and over 14% consider that BTC will have a valuation of more than $15,000 post the halving. Most of the miners also think that the hash rate will not change substantially.

The respondents also expect the US economy to impact Bitcoin’s price during this period — with 64% believing that the quantitative easing measures undertaken by the Fed will be beneficial to Bitcoin.

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