Last night a corrective rally occurred bumping the price of Bitcoin up 10% in less than an hour. It is said the rally occurred on the back of some heavily anticipated positive news involving the government of South Korea regulating the cryptocurrency market. Furthermore, the Financial Stability Board (FSB) recently published a report indicating Bitcoin and cryptocurrency “do not pose a material risk to global financial stability at this time.”
Currently the price of Bitcoin is at USD $7,370. Experts are suggesting that if the price of Bitcoin holds at this level, the foundations will be laid to surpass $10,000. Experts have also noted that the difference between the rally now, compared to other breakouts in June, is the volume. The volume of USD being traded for Bitcoin on Binance, the world’s largest cryptocurrency exchange, surged up from $100 million to $300 million in just two days. This would suggest that more investors are entering the market and seeing the value in cryptocurrency and block-chain technology.
What does this mean for Miners?
For Miners this simply means more money! It makes MiningStores already profitable Mining Rigs knock other forms of investment out of the park. It’s pretty simple really, the higher the price of a mined coin, the more profit!
So why build a Mining Rig now and not wait for prices to get even higher?
Supply and demand! The more profitable a Mining Rig is, the more expensive the components become. That’s why now is the perfect time to build your first Rig. Don’t wait for suppliers to bump up their prices, build your Rig with us today!