Chinese crypto miners predicting a surge in new BTC buyers

This is a very interesting time for Bitcoin, and for a number of reasons, Not only does the coin find itself in a situation for which it was originally created, but its third halving is only days away.

Not only that, but the majority of Chinese crypto miners seem convinced that new Bitcoin buyers will soon arrive. A recent poll by a cryptocurrency services company, RockX, revealed an interesting view of Chinese miners.

Bitcoin price will grow, and new buyers will come

The poll says that 57% of them expect that a large number of new BTC buyers will join the market very soon. They expect it to happen within the next six months.

The company polled 42 major miners, and it published the results only yesterday, May 4th. Some of the prominent members of the Asian mining community that participated include some well-known names. Examples include Yu Chao, the COO of F2Pool, as well as Wayne Zhao, a partner at TokenInsight. There is also Wilson Guo, the CEO of OXBTC and Pandaminer, as well as Fan Xiaojun, Bitmain APAC’s head of sales.

The majority of the respondents (71%) seem to believe that the market is once again strongly confident in BTC. Not only that, but 45% of them expect that BTC price will climb between $10k and $12k in the next six months.

Around 24% expect that the price will see low volatility and that it will remain around $10k. Finally, only 14% expect it to surge past $15k.

Hashrate will stay the same, miners say

The miners were also polled about the hashrate, with over 57% of them saying that they do not expect major changes post-halving. They believe that the hashrate will remain between 110 and 130 EH per day. Bitcoin network’s hashrate currently sits at around 127 EH per day, which seems to confirm the community’s expectations.

Previously, the community said that it expects the hashrate to surge about a month before the halving, and this did, in fact, happen.

Many also expect that Bitmain’s Antminer 59 will stay profitable- Also, China is about to see its wet season, which will bring huge amounts of cheap hydropower. Chinese farms can use this to their advantage, according to RockX CEO Alex Lam. However, he expects that farms in other regions might have to switch to newer machines after halving.