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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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Why the meme-stock frenzy is unlikely to repeat

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GME shares surge 74%, but experts stress a meme-stock frenzy resurgence is unlikely due to fundamental differences in the company’s financial situation.

Australia’s budget unveils a second consecutive surplus of A$9.3 billion, prioritising the critical minerals industry and green energy initiatives to reduce reliance on Chinese supply.

Also, GameStop shares have surged 74%, but experts caution against expecting a repeat of the 2021 meme-stock frenzy. #featured #trending

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Why are airlines after the Biden Administration?

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Major airlines are taking legal action against the Biden administration over a newly implemented rule requiring them to disclose fees upfront.

On this episode of Hot Shots – Major airlines are suing the Biden Administration, AI-piloted fighter jets, SpaceX faces funding challenges, and Apple receives crushing feedback.

Ticker’s Ahron Young & Veronica Dudo discuss. #featured #trending

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The mounting pressure on Government spends

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Questions abound regarding the factors fueling this inflation surge in Australia and whether it correlates with the escalating government expenditures.

Concerns extend to how Chalmers navigates the mounting pressure amid discrepancies in spending allocations.

Moreover, as Australians grapple with the reality of rising living costs, the feasibility of cutting spending becomes a pressing issue. Additionally, amidst economic uncertainties, individuals seek guidance on managing stock market risks effectively. #Featured #Trending

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