- Dec 10, 2019
Crypto giant Bitmain has recently announced its strategy going into 2020. Much of the reason for the change in its strategy has been because of its falling market dominance. Back in 2018, Bitmain was the market king of Bitcoin mining equipment. With the market crash that stretched into 2019, Bitmain fell in sales and dominance. This was further intensified by in-house fighting in the company. Now, the company is planning big plans for 2020 and by the looks of it, making a big gamble that Bitcoin will soar. This is the popular opinion, Bitcoin will skyrocket with the halving.
Bitmain, like many in the crypto community, believes that the May 2020 halving will be an explosive one. This notion stems from the fact that the two previous halvings have seen prices skyrocket. A poll by Grayscale shows that more than half of its responders believe that Bitcoin halving has not been priced in. This simply means that Bitcoin will in the next few months change based on the halving. And while that change is not guaranteed to be positive, it is unlikely to be otherwise.