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There’s another reason why Bitcoin is in trouble

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Bitcoin’s collapse over the past six months has been well noted, but there’s another reason why Bitcoin is in trouble – the ability to mine crypto.

The difficulty of mining cryptocurrency is expected to get worse, with prices rising by around 9%.

Miners in North America have begun ramping up production as the northern hemisphere heads towards the cooler months.

Bitcoin’s difficulty adjusts automatically to keep the time required to mine a Bitcoin block to roughly around 10 minutes.

The higher the hash rate, the higher the difficulty.

Analysts are hopeful next generation machines will outpace the older machines being used in countries to increase the hash rate.

So far this year, network difficulty saw its highest month in January, where it hit 9 per cent.

That’s led many to believe a new seasonal trend is emerging, which could further impact the price.

Crypto.com accidentally transfers $10.5m to woman instead of $100 – READ HERE

“The post-summer network hashrate boom is a result of more efficient hardware being delivered, summer temperatures falling in the U.S. and old-generation machines being delivered to low-cost regions,” said Ethan Vera, chief operating officer at mining services firm Luxor Technologies.

Analysts are hopeful next generation machines will outpace the older machines being used in countries to increase the hash rate.

“When bitcoin price fell in [the second quarter] of this year, many miners in North America and Northern Europe unplugged their mid-generation machines. They then began the shipping process to low-cost regions such as Venezuela, and those machines are starting to get plugged in,” Vera said.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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Unpacking crypto ‘prop trading’

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What is crypto proprietary trading and how can it benefit you?

Bitcoin 101 is an exciting talk show that educates viewers on safe participation in crypto markets, providing timely updates and expert insights for informed decision-making.

Hosted by the Managing Director of Crypto CallsCheyne Kupfer.

In this episode, Cheyne sits down with Growth Partner at Crypto Calls, Jack Birkinshaw to talk all things prop trading.

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Money

The art of technical analysis

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How can we master the art of technical analysis in the crypto space?

Bitcoin 101 is an exciting talk show that educates viewers on safe participation in crypto markets, providing timely updates and expert insights for informed decision-making.

Hosted by the Managing Director of Crypto CallsCheyne Kupfer.

In this episode, Cheyne unpacks technical analysis and how it can up your crypto game.

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Crypto: the benefits of government regulation

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How can government regulation lead to greater trust and interest in cryptocurrency?

Bitcoin 101 is an exciting talk show that educates viewers on safe participation in crypto markets, providing timely updates and expert insights for informed decision-making.

Hosted by the Managing Director of Crypto CallsCheyne Kupfer.

In this episode, Cheyne discusses the benefit of increasing government regulation in crypto.

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