Bitcoin plunged for a fifth day, dropping below $7000 for the first time since November and leading the crypto market weaker. The biggest cryptocurrency sank as much as $1800 by over 18% within a day to $6600, according to Bitstamp pricing. As of Monday, it has wiped off more than 60% of its value from a record high nearly $20,000 last December.
According to Sina Tech, mining machine vendors in Huaqiang North Commercial Area (HNCA), Shenzhen, Guangdong, the world’s largest mining machines hub, are suffering from it. Previously high-priced mining machines are on clearance sales at the sound of bitcoin diving.
Antminer A3 for sale on January 17, 2018 with the factory price of 20,800 yuan is limited to 6,000 units both at home and abroad. The surging of bitcoin was creating a growing market for mining machines. In a visit to SEG Plaza in Huaqiang North two weeks ago on Jan.24 when mining machines were in short supply, an A3 was priced highly at 40,000 yuan.
Russian buyer’s quick buy and urgent sell
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http://news.8btc.com/mining-machines-on-50-off-sale-in-china-as-bitcoin-dive-below-7000
