Bitcoin’s bottom might not be in, but miners say it ‘has always made gains ov...
To mine, or not to mine, that is the question. Professional Bitcoin miners discuss the nuance of BTC mining and whether now is a good time to get started. Your favorite trader is saying Bitcoin (BTC) bottomed. At the same time, the top on-chain indicators and analysts are citing the current price range as a “generational buy” opportunity. Meanwhile, various crypto and finance media recently reported that Bitcoin miners sending a mass of coins to exchanges are a sign that $17,600 was the capitulation move that pins the market bottom. There’s so much assurity from various anon and doxed....
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Crypto analyst Altcoin Sherpa recently suggested that the Bitcoin bottom isn’t yet in and that the flagship crypto could still drop to new lows. Meanwhile, other crypto analysts like Mikybull Cypto have made a case for why the bottom is in and suggested that it is unlikely that Bitcoin will drop below $50,000 again. Bitcoin Bottom Is Likely At The $40,000 Range Altcoin Sherpa mentioned in an X (formerly Twitter) post that Bitcoin is more likely to find its bottom at the $40,000 range rather than at 50,000. He noted that this would mean a “few more nasty wicks, a few more liquidations, and....
How much control do Chinese miners have over bitcoin? If you deal in bitcoin regularly, you know China has arguably become bitcoin’s biggest fan, and its influence never goes unfelt. As the yuan devalues, the price of bitcoin is currently rising beyond $640, and it looks like this is merely the beginning of an oncoming bull run. At the same time, when something like the Bitfinex attack occurs, bitcoin can find itself up to its neck in sewage. There’s no denying China has control. The big question is, how much? In particular, how much control is held by bitcoin miners? According to reporter....
Bitcoin miners are supposed to be the bulls of last resort, but how are their financials faring in this bitcoin price tumble?
Bitcoin’s recent price gains have spread to other cryptocurrencies and altcoins, according to Charles Hayter, chief executive officer and founder of CryptoCompare, which provides data on cryptocurrencies, MarketWatch reported. Ark Invest and Ethereum have been among the winners. Chris Burniske, a blockchain analyst and product lead at ARK Invest, said bitcoin’s gains, driven by the fall of the Chinese yuan, are filtering into the broader market as bitcoin traders look to reinvest their profits. Cryptocurrency investors typically put profits in other cryptocurrencies rather than fiat....
The top (left) and bottom (right) of the Block Erupter USB. Bitcoin mining has evolved rapidly over the past few years. From CPUs, to GPUs, to FPGAs, to ASICs, the most up-to-date and powerful miners change constantly. When the first ASIC miners were shipped to customers in early 2013, miners became incredibly more powerful than before. Among the first ASIC miners announced was the Block Erupter USB: a small USB (Universal Serial Bus) that mines for Bitcoins. A History. Block Erupter USBs were first announced by friedcat on May 4th, 2013, on BitcoinTalk.org. They were small, portable, yet....