China’s crackdown on Bitcoin (BTC) mining due to energy consumption concerns is widely regarded as the trigger for the miners’ exodus from Asia to Western countries. But new research by the Cambridge Centre for Alternative Finance suggests that the shift in mining power started before China’s renewed scrutiny. Reuters reported that China’s total computing power connected to the Bitcoin network, or hash rate, fell from 75.5% in September 2019 to 46% in April 2021, before the Asian country even officially announced the mining crackdown. During the same 18-month period, the United States quadrupled its share of the global Bitcoin hash …

As the pressures placed on the market by China’s cryptocurrency crackdown begin to subside and the Bitcoin (BTC) hashrate starts to show signs of recovery, traders are now focused on how the price will be affected by this week's unlocking of more than $550 million worth of Grayscale's GBTC shares. Data from Cointelegraph Markets Pro and TradingView shows that the early morning downtrend in BTC on July 12 continued into the afternoon as the price of BTC dropped below the $33,000 support level after bears took control of the market. Grayscale attracted further attention on Monday after various media reported …

Bitcoin (BTC) starts a new week in familiar territory after a weekend of solid gains ended in a drawdown — what’s in store? With another rally to near $36,000 under its belt, the largest cryptocurrency is showing signs of strength, but old resistance levels remain in place. The conditions are complex — the ongoing miner migration and associated price action have alarmed many, and Bitcoin’s most accurate forecasting tools are seeing a real test. With fundamentals finally showing signs of life, however, bulls may finally have something to celebrate. Cointelegraph considers five factors at play when it comes to BTC/USD …

The cryptocurrency market found itself in a state of cautious optimism on Monday after Bitcoin’s (BTC) price briefly spiked above $35,500, renewing hopes that the bull trend will resume shortly. Despite the bullish move, some analysts have warned that the failure to secure a daily close above the $35,000 resistance level is a sign that traders are simply closing positions at each breakout to resistance — a hint that further downside could be in store. According to David Puell, on-chain analyst and creator of the Puell Multiple, the indicator has just given its fifth Bitcoin buy signal in history. $BTC: …

Bitcoin’s price has slightly recovered from its sharp dip below $29,000, but generally, the past month has not been generous to Bitcoin (BTC) and Ether (ETH). Bitcoin has failed to break the $40,000 resistance multiple times, and the recent dip to a six-month low at $28,800 was a startling sign for many investors. After an incredible start in 2021, Ether peaked at $4,380 on May 12 but has dropped 55% since then. Unlike the leading cryptocurrency, the Ethereum network faces competition from projects that do not depend on proof-of-work, hence not facing the bottleneck issues that caused transaction fees to …

Cryptocurrency investors awoke to another round of price declines on June 22 after the price of Bitcoin (BTC) dropped to a 6-month low at $28,805. The dip below the crucial $30,000 level might appear to be a prime buying opportunity but data shows that institutional investors are continuing their longest selling streak since February 2018. Data from Cointelegraph Markets Pro and TradingView shows the June 21 dip below $32,000 and recovery above $33,000 was just a precursor to Tuesday’s move which saw BTC hammered at the start of the trading day, reaching a low of $28,805 before bouncing back to …

This is Part Four of a multipart series that aims to answer the following question: What is the “fundamental value” of Bitcoin? Part One is about the value of scarcity, Part Two — the market moves in bubbles, Part Three — the rate of adoption, and Part Four — the hash rate and the estimated price of Bitcoin. Hash rate and the estimated price of Bitcoin In data mining, the term “hash rate” is a security metric. The greater the hashing power, the greater its safety and resistance to external attacks. It’s one thing for a hacker to attack your …

Bitcoin (BTC) is circling $35,000 at the start of the week after a fresh dip panics weak hands and fuels a whale feast — what’s next? After hitting $30,000 in a “capitulation bottom” event, a rebound to $42,000 had many thinking the worst was over for Bitcoin. The weekend proved them wrong. Cointelegraph takes a look at five things that could help set the trajectory for price action in the coming days. From weak hands to strong Throughout the May sell-off, one process has reappeared over and over — new coins flowing to old hands. In other words, those coins …

Graphics card giant Nvidia said that the hash rate limiter on its RTX 3060 graphics cards would also be introduced in other RTX 30 series GPUs in an attempt to disincentivize crypto miners. In an announcement from Nvidia on Tuesday, the company said it would be applying a reduced Ethereum hash rate to its newly manufactured GeForce RTX 3080, RTX 3070 and RTX 3060 Ti graphics cards. The models will be identified by a “Lite Hash Rate,” or LHR, label, aimed at getting its graphics processing units, or GPUs, to its target customers rather than cryptocurrency miners. “This reduced hash …

Although the majority of Bitcoin (BTC) mining is still based in China, there are signs it is beginning to shift elsewhere. Chun Wang, the co-founder of one of Bitcoin’s largest mining pools, F2Pool, reported that China represented less than half of Bitcoin’s hash rate during April 2020. Wang noted it was the first time the pool had seen Chinese miners represent a minority of the hash rate in its eight years of operation. “The shifting is real,” he said. Here at @f2pool_official, in April 2021, the first month in our 8 years of operation, we have seen more $BTC hashrate …

One of the largest crypto mining firms in North America said that it has acquired an additional 8,000 rigs and has begun mining other cryptocurrencies. In an announcement from Blockcap on Monday, the mining firm said it planned to have more than 50,000 mining rigs online by the end of 2022. Blockcap now controls more than 12,000 mining rigs, generating more than 6.6 Bitcoin (BTC) daily — roughly $380,000 at the time of publication. The firm added that it was accelerating its move to mine other cryptocurrencies including Ether (ETH). According to the firm, the addition of the ETH mining …

Graphics card giant Nvidia is quietly reintroducing a hash rate limiter on its RTX 3060 series graphics cards in an effort to disincentivize cryptocurrency miners. On Thursday, the company issued the GeForce 466.27 driver that reintroduces RTX 3060 crypto mining limiter. According to sources reported by computer news site VideoCardz, Nvidia will release the new “Lite Hash Rate” models in mid-May, which will be almost identical to previous versions of the same cards. The gaming giant had originally limited the hash on the previous models, reducing mining performance by 50%. Matt Wuebbling, head of global GeForce marketing at Nvidia, said …