‘If the price stays the same, then we would expect half of the Bitcoin miners to quit’
In a growing trend, Bitcoin exchanges have recently begun expanding their business into mining. An example of this is the BTC mining pool recently launched by BTC China, which now accounts for 7% of all hashing power. Another China-based newcomer is Digcoin — a Bitcoin mining company owned by the Beijing based Huobi exchange. Formally launched in September 2014, the mining company has been rising in the hashing power ranks as well. According to Huobi, the hashing power of the Bitcoin network is essential for the security of the blockchain, but mining must be profitable to be sustainable,....
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Bitcoin price is still fighting to break back above $60,000 per coin, but things could push higher according to miner behavior. After dumping more than a half a million BTC on the market during the bull rally, and barely being able to make a dent in terms of price decline, miners might have finally given in and started holding their coins for the sudden surge ahead. Miners Dump More Than Half A Million BTC Since […]
A few Bitcoin traders expect now expect a deeper correction but data suggests that a relief rally toward $18,000 should not be ruled out. The price of Bitcoin (BTC) has been consolidating above $17,000 on Nov. 28 following a major correction from $19,400. In the near term, traders anticipate the dominant cryptocurrency to see another steep pullback.There are three main reasons why traders expect a deeper drop to occur in the near future, namely, historical cycles, the Fibonacci Sequence, and the record-high open interest of the futures market. BTC/USDT 4-hour chart (Binance). Source:....
It's an event that brings equal parts predictability and uncertainty. For close to a year, bitcoin miners and investors have been preparing for a network change nicknamed 'the halving'. At approximately 18:00 UTC tomorrow, the subsidy the bitcoin network uses to compensate miners will drop from 25 BTC to 12.5 BTC, never to increase again. Yet, despite its scheduled arrival, many in the industry remain unsure just how significant an impact it could have on bitcoin's still-volatile price and the health of the distributed payment network's transaction validators (aka miners). A programmed....
Rising energy costs, a new hash rate ATH and flat bitcoin prices pose challenges to some miners as margins get squeezed.
Bitcoiners were maddened when former Bitcoin Core developer Mike Hearn quit the cryptocurrency’s community. They alleged Mr. Hearn “rage quit” after he agreed to an interview with New York Times and penned a Medium post about why he was divesting from Bitcoin. Circle Pivots in New Directions. Now, Circle Internet Financial has publicly bemoaned Bitcoin....