By The Numbers: Bitcoin Suffers Largest Single Day Drop Since March 2020
The price of Bitcoin (BTC) has dropped by almost 30% in the last 7-days. The number one crypto by market cap dropped below critical support as macro-economic conditions worsen for risk-on assets. The general trend across global markets seems to point to the downside. Related Reading | Bitcoin 3-day Chart Indicates March 2020 Crash Recurrence At the time of writing, Bitcoin trades at $22,400 with a 4% loss on lower timeframes. The downside price action is on pair with losses last seen in March 2020. At that time, the crypto market and traditional market crashed due to the spread of....
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The crypto market pushes further down and seems poised for more losses as Bitcoin touches the low of its current levels. The number one crypto by market cap approaches a major support level, and if bulls failed to protect it, BTC’s price could return to its 2020 range. Related Reading | By The Numbers: Bitcoin Suffers Largest Single Day Drop Since March 2020 At the time of writing, Bitcoin (BTC) trades at $21,800 with a 5% and 29% loss in the last 24-hours and 7-days, respectively. BTC’s price began to trend lower as a result of a series of bad news around major crypto companies, and....
Bitcoin miner revenue is once again on the rise. This time around, the miners have seen a significant bump in their returns from their mining activities in the space of a single week. This increase in revenue coincides with the increase in the hash rate coupled with a rise in the number of transactions carried out in a day. Daily fees have dropped during this time though, so let’s take a look at the numbers. Bitcoin Miner Revenue Jumps The previous week, bitcoin miner revenues had come out to a little over $36.5 million daily recorded on the part of the miners. This is not a bad figure per....
Bitcoin’s hashrate experienced a large drop of almost 35% in a single day. The hashrate plummeted from 108 exahash per second (EH/s) yesterday to today’s 69 EH/s, seeing one of the sharpest declines in the network. This might be a consequence of the situation going on with miners in China. Numbers further estimate a mining difficulty drop of around 23.7% next week. Bitcoin Hashrate Plummets The Bitcoin hashrate, the amount of work that secures the Bitcoin network, has experienced a sharp decline in the last week. In just a day, the hashrate dropped from 108 EH/s to 69EH/s, a....
An upcoming auction will sell three Legendary NBA Top Shot NFTs, including a token that holds the record for most-expensive Top Shot moment sold. Nonfungible token studio, House of Kibaa, has announced an auction of three “Legendary” NBA Top Shot NFTs depicting slam dunks from renowned pro basketball player, LeBron James.The auction will be hosted in partnership with Heritage Auctions, and will run from May 6 until May 20. The three NFTs will be auctioned off as a single collection. Each of the tokens were released during the first season of NBA Top Shot and are of Legendary scarcity — the....
The market may witness flash crashes in the near term, and another March 12 drop is not completely off the map. It is no secret that March 12, 2020, marked one of the darkest days in crypto history. This was the day when Bitcoin (BTC) witnessed one of the largest single-day price dips in its decade-long existence, swooping from $8,000 to a staggering low of $3,600, albeit briefly, just for a matter of minutes. To put things into perspective, within a span of just 24 hours, over $1 billion worth of BTC longs were liquidated, causing one of the most intense value drops witnessed by the....