How Can We Hold Onto Bitcoin When It’s Vaulting Around $100,000

On December 5th, following Powell’s statement that Bitcoin is benchmarked against gold and the positive news that the new SEC chairman will be a cryptocurrency industry professional like Paul Atskins, Bitcoin finally broke through the psychological $100,000 resistance level, surging $10,000 in 12 hours to reach a historic high of $104,000, etching its name dramatically in the annals of history. However, while people were reveling in the moment, the price quickly plummeted to as low as $90,000, catching many off guard and leading to countless traders liquidating their positions. Such extreme emotions have once again brought to mind an eternal topic: How can ordinary people hold onto Bitcoin?

In fact, even the most distinguished investors are puzzled by this question, and very few BTC holders can profit at the highest points. Judging from the recent Bitcoin cycle, how many people could have imagined that Bitcoin, which was at $16,000 in January 2023, would reach $104,000 by December 2024?

This reminds us of a long-standing saying in the industry: Trading cryptocurrencies is not as good as holding them, and holding them is not as good as mining them. Mining is almost the only way to buy Bitcoin at a low price. Moreover, because miners are involved in the primary market of Bitcoin, they actively and thoroughly understand the industry’s inner logic, which allows them to trust BTC enough. This trust makes miners more inclined to hold onto their Bitcoin, embracing greater wealth opportunities.

In the recent bull market, several models have shown high cost-performance ratios and have been welcomed by miners from different countries and regions, namely the ANTMINER S21 series and the WHATSMINER M60/M50 series. The ANTMINER S21 series is the absolute king of energy efficiency ratios among BTC ASICs, and this brand’s machines are comprehensively strong and trusted by miners. Taking the ANTMINER S21 XP 270T as an example, it currently mines about 0.00016740 BTC per day, worth about $16. The WHATSMINER M60/M50, on the other hand, has the advantage of maintaining good working conditions under extreme weather, with the WHATSMINER M60S as a case in point. It has been proven that in the cold weather of North America or in the large diurnal temperature difference of the Middle East, this machine has a very low failure rate, which helps to reduce overall costs. Additionally, its hardware total cost is not high, and it currently mines about 0.00011532 BTC per day, with a payback period of about 500 days at an electricity price of 6 cents.

In the face of price fluctuations, please maintain your faith in Bitcoin. Trading cryptocurrencies is not as good as holding them, and holding them is not as good as mining them. Welcome to consult our sellers for the most suitable BTC ASIC and trading methods for you! We have a large inventory of ANTMINER S21 XP 270T, WHATSMINER M60/M50, and other spot/futures in our warehouses in Asia, America, and other places, supporting shipping from multiple countries or declaring transactions at your delivery location.

Finally, BITMARS would like to remind everyone that all investments carry risks, so decisions should be made cautiously.

BITMARS is an internationally renowned crypto miner trading company. We provide comprehensive, professional, timely, and cost-effective miner purchasing and hosting services to maximize your wealth!