A majority of Chinese miners expect a huge influx of new Bitcoin (BTC) buyers within the next six months.

According to a poll past crypto services business firm RockX on May iv, 57% of Chinese miners expect a large number of new Bitcoin buyers to bring together the market in the almost futurity.

RockX claims to have polled 42 prominent Bitcoin miners and members of the Asian mining customs. Respondents include F2Pool primary operating officeholder Yu Chao, TokenInsight partner Wayne Zhao, Pandaminer and OXBTC CEO Wilson Guo and Bitmain APAC caput of sales Fan Xiaojun.

Over 71% of the respondents also believed that the market place has regained its confidence in Bitcoin. Furthermore, 45% of respondents believe that in the next six months, Bitcoin's price will be between $10,000 and $12,000, nearly 24% think information technology volition stay around $ten,000 with low volatility and over 14% believe BTC will be worth over $fifteen,000.

Miners' outlook on profitability is optimistic

Most (over 57%) of the respondents also believe that Bitcoin's hashrate won't alter significantly after the halving, and expect it to exist between 110 and 130 exahashes per day. According to Bitcoin network analytics website BitInfoCharts, every bit of today Bitcoin's network currently has a hashrate of 127 exahashes per day.

This seems to fall in line with what many in the crypto community are thinking. Equally Cointelegraph recently reported 37% of the cryptocurrency community expects Bitcoin's hashrate to be higher one month afterwards the block reward halving than it currently is.

A majority of Chinese miners also look Bitmain'south Antminer S9 to be nonetheless profitable afterward the halving. The Antminer is the first Bitcoin mining awarding-specific integrated circuit based on a sixteen-nanometer process chip, just is not the most efficient machine available.

RockX CEO Alex Lam — who has reportedly managed mining firms since 2022 — told Cointelegraph that because of the wet season in Cathay, domestic mining farms could take advantage of cheap hydropower and continue operating with older and less efficient machines.

Still, Lam noted that mining farms based in the United States, Canada and Europe could phase out older machines after the halving, predicting that Bitcoin's hash rate will fall past about xxx% a month later on the event.

Respondents besides expect the U.S. economy to influence Bitcoin in the time to come; 64% of them wait the quantitative easing measures undertaken by the federal reserve to take a "somewhat positive effect" on Bitcoin. Only 12% of the respondents believe the measures will have a very positive impact, while some other 12% call back it will have no impact.