The tectonic shift in mining hash power of Bitcoin has gone up to party level for the remaining miners (aka those in Canada, the US and Russia mainly). With some 50% of global miners now offline (China), those who remain are now seeing profitability rise to levels last seen back in April.Half of the networkAnalytics […]
Bitcoin, which had earlier this week cracked the $35k limit again, was on the defensive after China doubled down on it’s anti-crypto stance, warning institutions in the Middle Kingdom against even doing so much as providing services to any crypto-related companies. Meanwhile Bitcoin mining equipment can be seen, stacked and unused, in many Chinese warehouses, as […]
Last summer, DeFi (Decentralized Finance) burst out into the cryptosphere and surprised many when tokens like Chainlink and Sushi went on uncontrollable bullruns. By the end of August, the Chef Nomi scandal (also known as the SushiSwap Saga) took a lot of DeFi’s shine and it would last until well into the 2020-2021 Bitcoin bull run before […]
Although it’s been proven time and time again that criminal dealings make up only a very small percentage of Bitcoin trades (this isn’t like with Silk Road anymore you know). The simple fact that Russian hacking group REvil (what a name, you gotta give ‘em that) has taken over some 1 million computers at some […]
The Canadian crypto mining giant, Hut 8, is increasing its production capacities and now wants to HODL 5,000 self-mined Bitcoins by the end of 2021. Given the forced exodus of many miners until recently established in China, Canadian and US miners are seeing cheap material become available as well as the personnel looking to work […]
As the hash rate drops and the difficulty of mining Bitcoin goes down, miners in the US, Canada and many other countries are able to get better profits. This in turn has seen the Bitcoin price close above $35k again and many other altcoins rose in succession as well. In the past week alone, both […]
As we’ve stated earlier this week, the crackdown of China on Bitcoin miners also means that fees would drop as well. If all bodes well, this could then mean higher prices. Some in the market seem to guess we were right, as yesterday saw Bitcoin (and most other crypto coins) climb to higher levels. When […]
Bitcoin stays flat and has been ranging for more than a month now between $30k and $40k. It comes as the US economy rebounds from the vaccine roll out and the tech heavy Nasdaq and the broader S&P 500 showed new records on Friday after a better than expected jobs report.Bitcoin rangingThe world’s biggest cryptocurrency […]
Back in March of this year, when all was well in the land of crypto and Bitcoin sought to touch $50,000, a single Elon Musk tweet was able to push the price of Dogecoin several percentage points. Musk went on to present SNL in April of this year, claimed that Doge was a hustle and […]
The Bitcoin hash rate (the amount of computing power being contributed to the Bitcoin network through mining) has since the beginning of July stabilized after it fell for 10 straight days. The move down started as the Chinese Central bank reiterated its warning over cryptocurrencies and may now signal that all of China’s mining crackdown […]
