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Huge dip in BTC (13%) caused by users selling/trading their BTC for BCash to buy the new batch of Bitmain's Antminers S9.
- Twitter announcement:
https://twitter.com/BITMAINtech/status/943032606743937024
- BITMAINtech
Bitmain increased the price of the Antminer S9 from $1450 in July to $2725 now in December.
I am mining since 2013 and I am watching bitmain do the same thing every time BTC's value increases. It seems that the company's protocol is to sell their miners at a price so that the ROI is >= 3 months.
A S9 can mine at the time of this post about $1000 a month, so you see the correlation.