Bitcoin to $150k by Sept. of 2021?

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Brief History of Jiang

Jiang is formerly a China Mobile employee that sigway into btc mining in 2017 by owning his own facility to mine btc. He leads a team of people to mining btc since and has created his own mining pool called BTC.top that can be joined by big mining farms all the way to single rig customers.

For bitcoin loyalest know best is that Jiang Zhuoer is one of the biggest players in mining btc. Back in 2017 Jiang publicly announcement through an interview that he had the capability to control up to 8% of the total mining hash rate for btc.

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2020 Jiang Interview

A later interview in 2020 had Jiang talking about the mining pool he created BTC.top being an institutional and retail friendly mining pool. Friendly for retail in a way that he allowed customers to purchase individual miners to operate at their home for an upfront cost of splitting mining earnings. As long as customer continues to operate the miner they can expect to pay a portion of their earnings back to Jiang until the entire cost of the miner is paid back then any additional mining profits goes directly to the customer. If the customer does not ever get to being profitable they do not have to worry of paying the full amount for the miner. This is partly helping Jiang create mining power for his pool without having to built or take up warehouse space.

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At the end of his 2020 interview he was optimistic about btc's price and had proof of his projections.

“The bull market of Bitcoin has increased more than I expected, so I expect that the top of this bull market may not be $100,000 as I expected, but may reach $200,000 or even $300,000, making Bitcoin exceed the total market value of gold.”

Jiang has been a btc holder long before 2017 but was concern of his btc holding when struggles emerged with btc and Craig Wright. The forks of BCH and other tokens have not necessary dented the value of btc but Jiang wanted to be proactive and created his own mining pool in hopes of maintaining some control in the value of btc.

Pool Miners Leaderboard

As of March 2021 his pool BTC.top is currently 8th in worldwide mining pool power.

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Courtesy of https://www.buybitcoinworldwide.com/mining/pools/

Miners are true BTC hloders

Jiang also made a comment in his 2020 interview that miners tend to be the strongest diamond hand holders since they consider mined btc as golden eggs, limited and very special. His trajectory of price is based on the mining power necessary to mine btc. It is proven that the greater amount of mining power needed to mine btc the more valuable it becomes.

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As of today Jiang publicly mentioned a prediction that btc will continue to rise in price up to 2022. While before than he predicts btc will reach $150k+. One of the catalyst of his optimistic outlook is the recent institutions purchases such as TSLA and Twitter. He also mentions the limitation in supply of computer chips used to mining is being thwarted by manufacturers luring more employees to the industry to produce more. The more btc price rises the more likely chip manufacturers will pay more to hire more and create more chips.

“If you increase labor cost by 10,000 yuan, it is possible to see an increase in mining output by 100,000 yuan. Due to insufficient chip production capacity, it is expected that the profit of the mining business will outperform the growth of bitcoin’s price,”

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BTC bear market in 2022?

There is some logic behind why Jiang is predicting a bear market by 2022. In 2014 when Mt. Gox was hacked the sense of security for holders of btc was lost. It damage the trust in holders of btc and made it's price tumble close to 35% from all time highs.

In 2017 btc rose above $20k but by early 2018 it had sudden drop only to be slightly under $4k as a bottom was made in 2018.

Now we are in another bull market since btc is at all time highs but the squential dates of when btc value drop can not be overlooked.

2012, 2018, and now likely 2022?

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So Jiang sees a bull market for btc to continue even now while price of btc is over $50k! While he is giving some worrisome prediction for 2022 the fact of the matter is each down cycle has btc making a higher low for price. Hence needless to say for true btc diamond hand holders the future for btc is still very very bright.

None of what I write is financial advice. It is for entertainment purposes only. Thanks for reading!


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5 comments
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This is an interesting and well done article. But it has nothing to do with Splinterlands and hence does not deserve the SPT upvote it got. Please don't use #spt or #splinterlands tags for unrelated posts.

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Oops. Was using the wrong template when writing the blog post. Did not double check the tags when I hit submit.

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BTS is sky rocketing these days.
It's out of reach of most of the people. I have been concentrating on Sats now, it's smaller denomination of BTC.
just because it's affordable as a whole unit.

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