How Fed Tapering, Energy Crises And China Blackouts Will Impact Bitcoin
Potential Federal Reserve tapering, blackouts in China and global energy crises are sending markets into turmoil. How does bitcoin fit in?In this episode of Bitcoin Magazine’s “Fed Watch'' podcast, hosts Christian Keroles and myself, Ansel Lindner, gave an update on the Federal Reserve, the energy crisis in Europe and Asia, and Chinese blackouts. It is a very pivotal time for markets and things are moving fast. This episode was recorded on September 28 and things are moving so quickly that by the time of publishing, we might have a completely different scenario brewing. For that reason, we....
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Since April 15, the Bitcoin network hashrate has dropped more than 49% after touching an all-time high at 218 exahash per second. Regional reports noted that in China the Xinjiang grid is having blackouts and “safety inspections.” Reports Claim Blackouts in Xinjiang, China Have Pushed Bitcoin’s Hashrate Down 49% At the time of writing, the Bitcoin (BTC) network hashrate has seen a 49% drop off after touching an all-time high (ATH). Data shows on April 15, BTC’s hashrate climbed to a massive 218 exahash per second (EH/s). Almost immediately after that point, the....
The China bitcoin mining ban that took place mid-last year was no doubt a heavy blow to the space. It saw the hash rate from the region which was once termed the mining capital of the world crumble to almost zero as miners had to shut down their operations. The reason for this from the Chinese government boiled down to concerns about electricity consumption and environmental impact. As the miners exited China, they had to set up business elsewhere and procure electricity for their mining farms, which can be quite energy-intensive. According to a new report, these new energy sources have....
Local news outlets have tied a recent dip in the bitcoin mining hash rate to government-instituted blackouts in China.
Following a Federal Reserve announcement on tapering acceleration, the bitcoin price and equities rallied in tandem.
Europe is suffering and struggling to contain an energy crisis according to various reports that say the eurozone might have to deal with a cold winter that could lead to energy rationing and blackouts. A recent survey published by the General Confederation of Greek Workers (GSEE) shows seven out of ten Greeks purchase less food in order to pay for energy costs and fuel. Moreover, Hungary’s prime minister Viktor Orban explained in a social media post on Saturday that “Europe has run out of energy.”
EU Deals With Ongoing Energy Crisis — Hungary’s....