Binance Pool has become the 11th largest Bitcoin mining pool in the world, according to data from BTC.com. The exchange’s CEO Changpeng Zhao shared the news earlier today, using older data that showed Binance Pool ranked 8th with 4.23% of the total hashrate. Binance Pool Sees Slow and Steady Growth in HashrateBinance, one of the largest…
Bitcoin mining hardware manufacturer Canaan has recorded a net loss of $5.6 million in Q1 2020, despite seeing a huge increase in profits. According to the company’s newly released financial report, its gross profit increased by 417% from Q1 2019, while total net revenues increased by 44%. Unaudited Report Shows Canaan Suffered Huge Losses in Q1According…
Bitcoin‘s halving is just three weeks away at this point, and with the critically important event happening so soon, the first-ever crypto asset is at an especially pivotal junction that could shape the future of the asset in the near and long term.But what exactly does the halving mean, and why is it that crypto…
Since 2017’s blow-off top at $20,000, investors have been wondering when Bitcoin would be thrust into its next bout of parabolic growth. After all, crypto investors are used to rounds of rapid growth, then brutal drawdowns.Related Reading: Crypto Tidbits: Bitcoin Loses $7k, Blockchain Layoffs, Ethereum DeFi ExplodesBut, a key indicator is showing that the same…
Bitcoin just completed a repeating pattern signaling the third, and potentially final miner capitulation event, that in during past cycles proceeded the start of a major bull run, leading to a new all-time high.Past Bitcoin Market Cycles Suggest Miners Capitulate Three Times Before Bull RunAll financial markets are cyclical, and Bitcoin and cryptocurrencies are no…
Bitcoin price recently plummeted to under $4,000, bouncing off what may believe is the absolute “floor” for the first-ever cryptocurrency.However, according to data from a top crypto industry analyst, the price floor of Bitcoin could jump to as much as $7,000 to $8,000 immediately after the halving takes place this coming May. But what exactly…
Bitcoin price has made a strong recovery over the last week or so, nearly doubling in value from the lows it set during the extreme, panic-induced selloff earlier this month.And as price has made a recovery, Bitcoin miners have begun returning to the market, turning back on their rigs, as can be seen by an…
Bitcoin recently experienced a historic single-day drop, taking the cryptocurrency from $7,500 to under $4,000 in less than 48 hours.The first-ever cryptocurrency is now trading below the cost required by miners to produce each Bitcoin. Now that miners are better off buying BTC outright, what could this mean for the strength of the underlying network,…
Bitcoin has already had an explosive start to 2020, but the rocket ship is only just getting started with the cryptocurrency’s halving just “around the corner.”According to historical data, Bitcoin could rise to as high as $18,000 ahead of the halving, and with the probability of a new all-time high rising by the month, any…
In the cryptocurrency industry at least, it’s pretty widely understood that the Bitcoin halving is due to take place in May 2020. However, that might not actually be the case.Surging hash rate and recent mining difficulty adjustments mean that miners will solve remaining blocks quicker than expected. Some analysts are now eyeing the end of…