But with Bitcoin demand on the rise, can we expect more scarcity?
Bitcoin mining difficulty has risen by 9% since the May 11 halving, demonstrating that the ecosystem remains healthy despite post-halving miner capitulation fears.
Canadian miner Hut 8 Mining Corp has reported that second quarter revenue tumbled 67% to $6.9 million from $21.2 million a year ago, as Bitcoin’s supply cut in May forced production to decline. The Toronto Stock Exchange-listed company extracted just 795 bitcoin (BTC) in the April to June quarter, compared to 1,165 BTC in the […]
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How Bitcoin’s third halving, Ethereum 2.0’s launch and the COVID-19 pandemic are affecting the crypto mining industry.
The network difficulty for the Bitcoin network spiked over 9.8% on Monday bringing the difficulty to its highest point ever. The record high of 17.35 trillion makes it much harder for bitcoin miners to profit. However, the overall Bitcoin network hashrate has remained consistently above the 120 exahash per second (EH/s) zone. On July 13, […]
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While Bitcoin’s value seems to have stagnated over the past few months, some believe that a price surge is just around the corner.
A recent report from ZUBR Research explains that by 2028, retail demand for bitcoin will exceed the supply. The report highlights that in eight years as Bitcoin’s supply rate decreases “retail size addresses [will] begin to eat up all the new supply alone.” Even the next halving in 2024 could see retail accounting for acquiring […]
The post Demand for Bitcoin Will See a Dramatic Shift in 8 Years – Retail Addresses to Eat up Entire New Supply appeared first on Bitcoin News.
Investing in bitcoin has been somewhat of a phenomenon, as millions of individuals have invested funds into the crypto-economy since at least 2010. One specific and lucrative method of investment is dollar-cost averaging. If an individual was to invest $10 a week into purchasing bitcoins since July 2010, the $5,130 USD (overall cost of investment) […]
The post Average Price of Bitcoin More Than Quadrupled Between Reward Halvings appeared first on Bitcoin News.
One month after the Bitcoin halving, several key factors seem to point to a pivotal change in the BTC market and investor behavior.
Strengthening network fundamentals support the bullish case for Bitcoin price one month after the halving.