What Is a Mining Farm?

One of the most popular ways through which many people get cryptocurrencies is through the process of mining them. More specifically, we'll use Bitcoin as an example, as miners earn 6.25 Bitcoins each time they complete a block at the current point in time (May 2021).

Discussing a mining farm, this is typically a room or a warehouse that is dedicated to mining cryptocurrencies. Keep in mind that the farm can be a basement in a house with multiple ASIC machines, or even a large warehouse that features both GPUs alongside ASICs. Mining farms contain truly enormous power supplies, alongside huge fans to cool the equipment. They typically have more than a single person working on them. A mining farm is essentially a mining pool with miners that are housed within a single location and building.

Bitcoin mining is a simple concept: it is the process of someone verifying a transaction so that it can be added to the public ledger we all know as the blockchain. Transactions are added in blocks, and all you need to verify a Bitcoin transaction is a computer with a connection to the internet and a software program that is linked to the blockchain.

Keep in mind that computers consume a lot of energy, and air conditioning is typically required to prevent any overheating. This means that if you are in a geographical location known for its low temperature, you might just be in luck in this regard.

Mining is expensive, and in addition to using large amounts of electricity, the mining computers need to be replaced frequently. As such, you will be required to have some capital upfront in order to start with your mining farm, and expand and maintain it through the currencies you end up generating.

#PRA
#STG has hit target level .✅

Hope u guys have booked profit 💰.
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#PRA
#ACH has hit both targets ✅.
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#PRA
#QNT / USDT :

TF : 1D

- Price is in an uptrend over support sloping upwards. Currently consolidating over the support zone and recently breaking out of the trendline, it's likely to continue its trend and test the previous swing high. Wait for the price to break out above the $112.7 level upside to go long.

Expected Returns : 15-30%

Plan :
Entry : $112.7
Targets : $131.2 and $148.5
SL : $98.1
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It's evident that Bitcoin is spearheading the current rally, with Ethereum following closely behind. However, other altcoins are lagging behind significantly, showing limited movement thus far. There's a possibility of a shift in capital from Bitcoin and Ethereum into altcoins in the coming weeks, potentially signaling the onset of an altseason.

#PRA
#MASK / USDT :

TF : 4H

- Price is in an uptrend above the 200 EMA. After an impulsive bullish move, the price is currently in a correction phase and approaching a support zone near the 200 EMA.

- Look for the price to retrace, find support over the support zone, and bounce back for a long position. Aim for the previous swing high as a potential target.

Expected Returns : +10%

Plan :
Entry : $3.687
Target : $4.132
SL : $3.474
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Here's the Analysis of #WLD :

#WLD yesterday printed it #ATH (All-Time High) after a long consolidation phrase. Price is been retracing now and expected to $4.80 - $5.30. Right now, nothing can be done, as there's very less and low probable reference points. On Hourly TF, there's a broken trendline, which might be the reason for a drop. Wait for the correction to over before entering the buys.

SC analysis:

Price is currently in an uptrend, showing strong upward momentum. It recently broke through a resistance level and was successfully retested it. This suggests a potential continuation of the upward movement. Consider placing buy orders near the support area with tight stop-loss.

Support Area: $0.01286-$0.0136

Resistance Area: $0.0169-$0.0177

Bitcoin faced a considerable amount of selling pressure at the $52,000 level, which ultimately led to a sharp drop. However, the BTC value quickly bounced back from the downturn and is currently trying to break through the $52,000 level once again. Considering the high volatility of Bitcoin, it's advisable to adopt tight stop-loss measures for all open positions as a correction may occur before the next significant movement.

#PRA
#EOS / USDT :

TF : 4H

- Price is in an uptrend above the 200 EMA. It's expected to retrace to the support zone near the 200 EMA.

- Watch for the price to reach and find support near the 200 EMA. Then, wait for a bounce back to enter long. Target the previous swing high or a new high as the price is likely to keep its trend.

Expected Returns : +10%

Plan :
Entry : $0.760
Targets : $0.804 and $0.865
SL : $0.715
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#PRA
#TRX has hit target level ✅
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#BTC kept on consolidation and building liquidity both side. Price started stop hunting now, and is been a range. This is because this is a strong physiological level and a re-accumulation or distribution area for the market. Daily Candles printing in congestion, so a heavy impulsive move is expected to come after a breakout.

DOT recently showed a false break above the resistance area, followed by a sharp decline. There will probably be a test of the nearby support before the next major move takes place. For a bullish outlook, the price needs to break and maintain levels above the resistance barrier.

Local Support Area: $7.25-$7.30

Major Resistance Area: $7.55-$7.90

#TOTAL MARKETCAP UPDATE :

#TOTAL MarketCap, made a breakout of the range (Blue Box) and heavily pushed as #Bitcoin surpasses $50,000 with the rally. Index Also broke the Major Resistance with that showing strong bullishness and currently trading near the minor resistances. Expected a push towards the next Resistance Zone of $2.08T - $2.12T Mark. This rally will most probably come with alts move.

#PRA
#HOT has hit target level ✅ .
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#PRA
#IOST / USDT :

TF : 4H

- Price is in an uptrend, making higher highs and higher lows, finding support above the 200 EMA.

- Currently, the price is retracing to the previous support zone near the 200 EMA. It is likely to find support and bounce back from there to continue its bullish momentum and test its previous swing high.

Expected Returns : 8%

Plan :
Entry : $0.0088
Target : $0.0095
SL : $0.0083
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With the new spot Bitcoin ETFs gaining momentum, a bull market in the digital asset space is arguably in play. This indicator assesses whether positive momentum is building within the Total Altcoin Cap, alongside continuous capital inflows into #BTC, #ETH, and Stablecoins. Altcoin Indicator has signaled positive momentum since October last year, with a brief pause during the sell-the-news event after the Bitcoin-ETFs went live

Educational Post

What Are Bitcoin Layer 2?

Bitcoin Layer 2 are protocols built on top of the Bitcoin blockchain. They are typically designed to address performance issues or other limitations of the main chain.

Layer 2 protocols process transactions off the main blockchain, providing advantages such as improved scalability, enhanced programmability, and expanded capabilities to support various decentralized applications.

Why Bitcoin Layer 2?

Bitcoin's initial design as a decentralized and secure payment system faced limitations when it came to scalability. The average block creation time of 10 minutes and a throughput of seven transactions per second (TPS) proved insufficient during periods of high transaction volume, leading to increased fees and delays. 

The Bitcoin blockchain's limited scripting language also restricted its ability to support complex smart contract and decentralized applications (DApps).

Momentum VS Volatility

#Momentum and #Volatility are two important concepts in trading that often go hand-in-hand but some traders, misunderstood #Momentum and #Volatility as same in the market.

#Momentum refers to the rate of increase or decrease in the price of a coin, and is often used to identify trends in the market. A momentum trading strategy typically involves buying coin that have been rising in price and selling those that have been declining.

#Volatility, on the other hand, refers to the degree of fluctuation in the price of a coin over a given period of time. A security with high volatility is more likely to experience sudden, large price movements, both up and down. A volatility trading strategy might involve buying options contracts to profit from large price movements in either direction.

It's important to note that both #momentum and #volatility can be impacted by a variety of market factors, such as #economic news, changes in interest rates, and geopolitical events.

The liquidation of overleveraged long positions in Bitcoin signals a healthy market reset, restoring balance between buyers and sellers. Now, we await to see if the price will bounce back from this juncture or dip further towards the $50k levels.

#PRA
#NKN has hit target level ✅.
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