F2Pool co-founder Godfish: If the price of Bitcoin does not rise after halving Bitcoin, there will be 70% of the mining machinery in the entire network

During the online live broadcast of the Global Supercomputing Industry Summit at the top of TokenInsight’s computing power, F2Pool co-founder and Cobo co-founder Shenyu said that in the face of the catastrophic decline in global stock markets, the overall economy has shown a downward trend and has been affected by recent financial heights. The influence of the linkage has also caused the currency circle to fall into an economic crisis, and a large number of miners are in trouble. Coupled with the upcoming halving, if the currency price has not risen significantly, the entire network will have 70% of mining machinery, which will be a disaster for miners. Shenyu said that this time this year’s halving was a very big impact on miners and miners. Affected by the global economic downturn and the epidemic, large-scale shutdowns have occurred before halving, and mining machines such as the S9 have already exited the stage in advance. If there is a plunge after halving, coupled with the global epidemic and other factors, market sentiment will panic and step-by-step escapes may cause a short-term death spiral. After the reshuffle period and adjustment, market sentiment gradually recovered and ushered in a new cycle. This situation is more extreme, the market is unpredictable and can only follow the trend.