Huge dip in BTC (13%)

in #bitcoin7 years ago (edited)

Huge dip in BTC (13%) caused by users selling/trading their BTC for BCash to buy the new batch of Bitmain's Antminers S9.

Bitmain increased the price of the Antminer S9 from $1450 in July to $2725 now in December.
I am mining since 2013 and I am watching bitmain do the same thing every time BTC's value increases. It seems that the company's protocol is to sell their miners at a price so that the ROI is >= 3 months.

A S9 can mine at the time of this post about $1000 a month, so you see the correlation.

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BITMAINtech BITMAIN tweeted @ 19 Dec 2017 - 08:17 UTC

Good news: We're finally releasing a batch of the Antminer S9 #BitcoinCash #Bitcoin miner today at 5PM (19 Dec, GMT… twitter.com/i/web/status/9…

Disclaimer: I am just a bot trying to be helpful.

so the reseller will increase it to 5000 USD

That's about right, if not way more

and they are sold out again ! in less than 48hrs

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