With bitcoin getting all the hype the last few days and for good reason now breaching over $61,000 per bitcoin there's a lot of speculation in the air as to where this might go. Ranging from a million dollar bitcoin to more conservatives prediction by myself at around $117,000 per as the peak of this bull run.

Now last year I said we where in the bull market and that most people don't realize they are in the bull market until AFTER it's pretty much said and done. We went from a $23,000 Bitcoin to a $61,000 bitcoin in just 365 days. Yep one year for a nearly 200% gain. Now it's going to be harder as the price of bitcoin grows to become a larger percent. It's far easier to take a $10 token and 10x is to $100 each compared to taking a $23,000 token and pushing it to $230,000 which would be 10x so I don't see massive gains happening with bitcoin at this point like we have in the past. However it's for sure going to put some stocks and interest rates to shame.

Bitcoin Stocks

I've covered Bitcoin style stocks in the past where large companies have now built massive structures to mine bitcoin and that's pretty much all they do. These mining rigs are starting to come under pressure from the USA government once again saying that bitcoin mining is a massive strain on the power grid.

Personally I don't buy into this at all and to be fair if they did want to push on it then they should require a percentage if not all of it to be from renewable energy like wind, solar or tide. Which I believe a vast majority of these companies are now operating off of.

It simply makes sense from a business stand. Not only are you mining bitcoin but any extra energy produced could be switch to the grid and sold for even more profits. Many of these system require little maintenance.

Over the last three years we can see that the hash rate has only increased over time. Even when bitcoin sold off people still mined it and only continued to expand operations. Now these companies are reaping the rewards from their ventures and expanding during what many would have thought they were crazy for doing.

Profitability

Now for use every day folk who don't have mega buildings we are pretty much out of the game in terms of earning a profit from bitcoin mining. However you can still take part but it's going to require you to build your own renewable power. I could very well see more of these micro operations coming online as the bull market heats up.

Even when the bitcoin halving happens in less than 2 months those operations that have built renewable power will always find themselves profitable. Thus I see a huge demand for renewable again so expect prices of Solar and Wind to go up from here at it will become a critical part for many.

Will you be starting up a bitcoin mining operation yourself?

Posted Using InLeo Alpha