Bitcoin’s Energy Use Dips After Price Drop – Good News For Environmentalists?
Bitcoin, the world’s most popular cryptocurrency, consumes an astounding amount of electricity. But, its energy use depends on a lot of things. After suffering a major collapse this entire month, BTC price has remained so low that it is driving the blockchain’s vast electricity consumption to fall as well. According to estimates of annualized electricity […]
Related News
The bitcoin price has fallen… Probably not in the same manner as Olympus or London, but it has seemingly taken a trip down south to the $453 range at press time, equaling a $15 drop since our previous price study. Bitcoin Price Takes A Dive, But Should We Be Worried? Some may take this as a time to panic; that reaction may be premature. Things can appear scary at first, and we’re likely to be reminded of the troublesome year that was 2015 and bitcoin’s previous drop in 2014 from $1,000 to $600, but there’s not enough evidence to suggest such a drop is coming again. Bitcoin is still holding....
Bitcoin is constantly the subject of controversy, bringing out pundits, skeptics, and critics of all kinds and of various domains. Economists call it a bubble, investors call it rat poison, and environmentalists claim it is slowly killing the planet. Energy FUD is an easy target for the cryptocurrency due to the complex, proof-of-work consensus algorithm […]
Ethereum price traded higher versus the US Dollar and my buy dips idea presented yesterday is playing well in the short term. Key Highlights. ETH price surged higher towards $13.20 against the US Dollar to form an uptrend. There is a bullish trend line formed on the hourly chart (data feed via SimpleFX) of ETH/USD, which may act as a support zone if the pair corrects lower. Buying dips remain a good option for ETH, as long as the price remains supported. Ethereum Price Support. Ethereum price climbed a few points higher during the past 24 hours against the US Dollar to set a high of....
It's Sunday again, meaning it's time for another Bitcoin News in Review, where we check out some of the top stories of the week here on CryptoCoins News. This week (10 August - 17 August), we saw a huge drop in the Bitcoin price, more news regarding Mt. Gox, an interesting take on cloud mining, and more. Check out our video and keep scrolling for this Bitcoin News in Review. What's Happening to the Bitcoin Price? After a brief period of stability, it looks like volatility is back. At the time of this writing, one Bitcoin is worth ~$497, an almost $100 drop since last week. A lot of times,....
The powerful growth of Bitcoin’s price was followed by a sharp drop. That downward trend was natural. What explains the current drop? It was mentioned earlier that Bitcoin’s price has reached an important long-term resistance line. A new direction is usually chosen in such points, or, alternatively, an old trend continues with more power, but only after a rebound. What that means, is that there was a good chance for a drop, and it happened. The last confirmation was the disruption of the structure of the upward trend, a point where the drop finally took place. So far this short-term trend....