For Bitcoin enthusiasts, first, the good news. It is reported that mining difficulty for the world's largest, and most valuable, cryptocurrency just dropped by more than a fourth. Which means, it is now easier and more profitable to mine Bitcoins.

However, if one scratched beneath the surface, it would become evident that the easing of in mining difficulty is a move that is linked ultimately to the high environmental cost that the activity was seen as extracting. Authorities in China, which accounted for as much as 65 percent of the global production of Bitcoins last year, have cracked down on mining after it became evident that miners were using up massive amounts of energy.

But what makes Bitcoin mining a concern for ecologists? Here's what you need to know.

What is cryptocurrency mining?

What makes Bitco ... Read more »

Category: News | Views: 152 | Added by: danyagames2007 | Date: 07.07.2021 | Comments (0)

Today, the Bitcoin price tried to break above the $35,000 mark but with no success as the coin drops below the moving averages.

BTC/USD Long-term Trend: Ranging (Daily Chart)
Key levels:

Bitcoin Price Prediction: Is there any Expectation for the Bitcoin Price?
The Bitcoin price is currently moving sideways but as long as the technical picture remains intact, the Bitcoin bulls could have a fighting chance at reclaiming the support at $33,000. Therefore, traders should note that BTC/USD is holding below the 9-day and 21-day moving averages. This means that the technical health of Bitcoin is currently weak as bulls may lose the market with a serious downward trend.

However, on the downside, any other drop be ... Read more »

Category: News | Views: 199 | Added by: danyagames2007 | Date: 07.07.2021 | Comments (0)

Bitcoin is currently trading near $35,000 with a market cap of nearly $650 billion. However, BTC’s market sentiment remained negative due to a dip in its on-chain activity.

In a recent post on Twitter, Glassnode, the leading crypto analytics and research firm, mentioned that the total USD denominated transfer volume of Bitcoin has returned to the levels seen in December 2020. According to Glassnode, Bitcoin’s total transfer volume (entity-adjusted) has reached $239 million per day.

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Additionally, the Bitcoin network saw a major drop in the total number of active BTC addresses in June 2021. During the last week of June, Glassnode mentioned that active BTC add ... Read more »

Category: News | Views: 150 | Added by: danyagames2007 | Date: 07.07.2021 | Comments (0)

China’s central bank said Tuesday it had called for the shutdown of a company that “was suspected of providing software services for virtual currency transactions.” The statement, issued by the Beijing office of the People’s Bank of China, also warned institutions not to provide other services related to virtual currency, including providing business premises or marketing.

Lashing out against digital currencies is nothing new for the authoritarian state.

In 2013, the country ordered third-party payment providers to stop using bitcoin. Chinese authorities put a stop to token sales in 2017 and pledged to continue to target crypto exchanges in 2019.

But typically, each time Beijing has lashed out ... Read more »

Category: News | Views: 275 | Added by: danyagames2007 | Date: 07.07.2021 | Comments (0)