Bitcoin Following Another Government Drop – Bitcoin Magazine

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In this episode of Bitcoin Magazine“Fed Watch,” Christian Keroles and Ansel Lindner discuss the broad macroeconomic atmosphere in which bitcoin finds itself. They touched on bitcoin mining, price, the dollar, commodities and the economy in general. In many ways, markets are in the silence before the storm. After the 2020 crash and the subsequent rally has now run their course, markets are going to resume previous trends.

In our bitcoin mining commentary, we focus on hash rate behavior over the past few months and the unique market for mining rigs globally. The hash rate has not increased in proportion to the price, and miners are enjoying a fairly high profit right now. Why more hash rate has not entered the market is discussed in detail. Of concern here is the breakdown in the supply chains from China. Currently, China is where many of the mining rigs are manufactured, and this is where major margin players are in the hash rate. Supply chains are likely to be backlogged and breaking down at the same time. Companies can be struggling financially at the same time as they have contingency orders. Lindner and Keroles are hoping to get a mining expert on the show soon for an interview to ask some of these important questions that they largely don’t understand, even from Bitcoin experts.

Guests also had a very interesting discussion about social media, community building and games. The Bitcoin and marketers podcast community has built a valuable community on Discord and has slowly moved away from Twitter over the past year. Smaller communities where you can build relationships instead of sequences may be the future trend.

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They wrapped up the episode talking about macro trends and the price of bitcoin. It is important to put this rally in the context of bitcoin’s past behavior and the current macro climate. In an age where employment and solvency are no longer taken for granted, what part does bitcoin play? It takes years or even decades to reform economies to a new reality. Bitcoin will not go up in a straight line. The price opened the year at $ 28,999, and after just 20 days, many people think it’s out of the question that the price could fall back below that level in a short-term consolidation. Nothing goes up in a straight line.

All of that, and so much more, is covered in this chapter. Don’t miss it.

Bitcoin Magazine

Bitcoin Magazine is the oldest and most established source of news, information and expert commentary on Bitcoin, its underlying blockchain technology and the industry that has grown around it. Since 2012, Bitcoin Magazine has provided analysis, research, education and thought leadership at the intersection of finance and technology.