Bitcoin Continues to Set New Performance Records for Its Network Hash Rate Power

Bitcoin dominance has continued to soar in the cryptocurrency ecosystem. BTC has set new records this month for its network hash rate, which indicates that miners jiggled off delicate price accomplishment.

Bitcoin Records All-Time Hash Rate High in October

Blockchain, which is the authoritative resource that keeps track of data established, the hash rate reached 114 quintillion hashes per second on the 23rd of this month.

This, by far, is the enormous recording ever shared by others, including BitInforCharts, which at the same time also recorded an all-time high of over 110 quintillions. On 10th October, Coin Dance recorded an all-time high of 134 quintillions.

Hash rate is the all-inclusive computing power required to intricate agreements on the Bitcoin infrastructure. More potential advocates perfect network security as well as potential profits in Bitcoin mining. Meaning, miners are expecting an increase in Bitcoin’s value soon.

The Latest Price Drop Is Testing Miners Profitability

The network hash rate seemed to undergo rapid change last month. At the same time, Bitcoin dropped by 40% in a day.  Experts elaborated the data did not imply miners were giving up on Bitcoin as reported by Cointelegraph.

Be it as it may, the continuing hash rate before the fall in the price of Bitcoin drew a line showing their laxity in investing in the industry- so is its profitability. This week, the mining giant Bitmain started the world’s largest mining farm in Rockdale, Texas.

The profitability measurement is nearing its cheapest in 12-months. Cointelegraph reported that one miner said that $6,500 is the bottom line to keep gains for miners. Bitcoin could experience lower hash rates if it scales over it. This may lead to miners to down their tools until when the prices return to normal.

Dovey Wan, one of the investors, said that Bitmain’s Antminer S9 mining supply model is one he famous miners around the globe. At the moment, the miner is in the negatives at the present prices, excluding other costs such as electricity.

It is, therefore, a matter of time to see if the fall in Bitcoin price will have a contradiction on the hash rate.

All Eyes On Block Prize Method

Miners will now keep up with at least half of the new Bitcoins per block starting May 2020. Instead of 12.5 BTC, they will now compete for 6.25 BTC.

Reporters are anticipating the block halving to increase Bitcoin price with a comparison of up to $63 million not able to be used each week.

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Author: Ali Qamar

Blockstream CEO: Bitcoin Dominance Will See 90% Again, Altcoins Were Temporary Feature

Adam Black, the CEO of Blockstream, has recently affirmed that Bitcoin dominance is set to rever to around 90%, which would mark the end of the altcoins’ supremacy era. According to him, the historical heights will be achieved once more at the expense of the altcoins.

He affirmed this during a recent debate with Dovey Wan, the co-founder of Primitive Fund. Initially, Wan asked about how Bitcoin was quickly decoupling from altcoins and rising in price alone. Adam Black answered that this was a “reversion to mean” and that the process would continue. At the moment, the dominance of BTC is around 70%, but he believes it will grow.

Last year, Bitcoin had less than 40% of the whole market cap, but the situation is changing quickly. Black affirmed that the whole reversion of the trend will last for around two years and a half and that the dominance will be huge when the process stops. Before 2015, BTC dominated 90% of the market and he believes that this will happen again.

This obviously gives some power to the narrative that Bitcoin is here to take the place of the altcoins completely. Vocal critics of altcoins have been very prominent lately by affirming that they are mostly doomed, with maybe only a handful of them surviving the future.

The Bitcoin maximalist Max Keiser, for instance, affirmed that the altcoins will never recover from their losses and that Bitcoin will continue to be the king in an even more undisputed fashion now. Is he right? Hard to say, but the trend if clear, Bitcoin is growing and the altcoin market is struggling to follow.

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Author: Osahon Okodugha

Altcoins Surge As Bitcoin Price And Dominance Takes A Drop; BTC Rally Coming Soon

  • EOS, Tezos, and Maker leading the pack
  • BTC dominance takes a hit as well as price did of $200
  • However, A monster rally could be on the way

Bitcoin price took a hit before the weekend, going from $10,950 to about $10,200 level. However, soon after BTC price recovered.

Today, Bitcoin has been trading around $10,542 when it took another dump of over $200 in less than half an hour, going to $10,320.

Currently, BTC/USD is trading around $10,375 with 24 hours loss of 0.03%, as per Messari.

This year, while Bitcoin price soared over 200%, altcoins failed to show any signs of life.

However, this time, altcoins are taking over Bitcoin.

Majority of the digital currencies have been enjoying greens with EOS in the lead with 12.36% gains followed by Tezos, (9.11%), Tron (9.08%), and Maker (8.17%), at the time of writing.

Top altcoins like Cardano (6.34) Ethereum (5.97%), Bitcoin Cash (5.54%), XRP (4.53%), Bitcoin SV (3.71%), IOTA (3.56%) among others are also registering a fresh wave of greens after much time.

The total market cap in response rose to $269 billion, up from yesterday’s $260 billion but still need to catch up to $274 billion on Sept. 6.

BTC dominance meanwhile has gone down to 72.6 percent from the high of 73.4% on Sept. 6.

A Monster Rally on the Way?

There is no knowing yet if and when altcoins will start their bull run, as a good number of these digital currencies are still down between 85 to 95 percent. Some like Cardao are down even more than 95% from their all-time highs.

However, Bitcoin’s journey to a new high seems to have started.

For starters, the three consecutive negative weeks that we saw recently was last seen during the bull run of 2017.

Moreover, Bitcoin traders are increasing their exposure to the digital asset on futures trading platform BitMEX. As we recently reported the open interest on XBT (that represents Bitcoin) against USD has crossed $1 billion, reaching $1.06 billion mark.

It is fast approaching its all-time high of $1.22 billion, set on July 10.

This willingness of traders to risk more of their money on the future outcome of the leading cryptocurrency, however, fails to provide clarity on which direction BTC price will move as it is split between “shorts” and “longs” by 51.02% and 49.08% respectively.

However, recently trader Jonny Moe took to Twitter to advise investors to place their positions cautiously as chart suggests a potential drop to around $6,000 level.

“Update: Still anticipating a return to the parabolic trend. Previously had ~$5,500 on this chart, assuming a quicker return to mean. Since we’ve consolidated sideways for about 2 months, the downside is more like $6,000 now,” he said.

A good thing is, popular analyst PlanB emphasizing that BTC price, as it has been, will likely be below and above stock to flow model value every year, “cointegration, not correlation, is key.”

“Proof is in: bitcoin price is mainly driven by stock to flow, not by any other factor.”

As per this model, the Bitcoin price will go beyond $1 million.

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Author: AnTy

Arcane Research Puts Bitcoin (BTC) Dominance Higher Than 90% in Market Capitalization

Bitcoin’s dominance went up a lot this year, soaring above 70%. Now, a new study made by Arcane Research has shown that the actual level of BTC dominance may be considerably higher than most people thought. According to this new study, dominance can be over 90% right now, it really just depends on what kinds of metrics you are using.

It was argued that to measure the dominance more accurately, someone should use the liquidity as well, not only the whole market cap. The researchers believe that it is easy to sell the tokens at their official prices when you only need to sell a few, but what if you needed to sell a million tokens? Is there enough liquidity? This is the main question.

So they used trading volume to indicate liquidity and recalculated the market cap. Bitcoin’s dominance went through the roof, figuring at around 90%. Despite other tokens also being valuable, most of the time only Bitcoin is being traded.

Altcoins were removed from the study, though, as the researchers believe that they are not really competing directly with cryptocurrencies that have their own intrinsic value.

Will Altcoins Cease To Exist?

Now that it was proven that the dominance of BTC is even higher, will altcoins be doomed? Some people, such as the famous trader Max Keiser, have affirmed that the era of altcoins and hard forks was over and that only Bitcoin was the future.

It is, however, hard to tell for certain what will happen, as it depends on many variables. It does not look like any other crypto will topple Bitcoin, but there seems to exist space for more assets.

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Author: Gabriel Machado

BINANCE COIN Price Prediction: Long-term (BNB) Value Forecast – June 9

Binance Coin Price Raises But the BNB Token Finds Selling Pressure Above $19 USD
  • The bears are in the dominance of the long-term outlook of the cryptocurrency.
  • Traders may look to sell at price exhaustion area with bearish candlestick.

BNB/USD Long-term Trend: Bearish

Supply zone: $50.00, $70.00, 90.00
Demand zone: $10.00, $8.00, $6.00

BNBUSD is in a bearish trend in the long-term outlook. The close of the daily candle on 2nd June as a doji nullify the bulls’ journey to the upperline of the channel. Hence the return of the bears with a large bearish candle at $50.00. BNB dropped initially to $29.61 breaking the 10-EMA a support area and later to $28.06 in the demand area on 4th June.


The week saw brief bulls return with the cryptocurrency price up at $32.84 in the supply. This should be seen as a market correction and a confirmation of the bearish continuation.

The new week is starting bearish with price break down at the trendline and a drop in price to $50.00 in the demand area. A close below the line will open the support at 50-EMA for a retest i.e $27.55 with $20,00 in the demand area as the second bears’ target.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

[Domain Disclosure] The crypto-community content sourced, created and published on BitcoinExchangeGuide should never be used or taken as financial investment advice. Under no circumstances does any article represent our recommendation or reflect our direct outlook. We b-e-g of you to do more independent due diligence, take full responsibility for your own decisions and understand trading cryptocurrencies is a very high-risk activity with extremely volatile market changes which can result in significant losses. Editorial Policy \ Investment Disclaimer

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Author: Azeez M

TRON Price Prediction: Long-term (TRX) Value Forecast – June 8

Ahead-Of-The-BTFS-Release-Trons-BTT-Surges
  • The bears are in dominance in the market for the long-term outlook.
  • Traders may consider selling to the next key support at $0.2950

TRX/USD Long-term Trend: Bearish

Supply zone: $0.04000, $0.05000, $0.06000
Demand zone: $0.01000, $0.00800, $0.00600

Tron long-term outlook remains is a bearish trend. The outcome of the bullish flag was achieved as predicted with a retest of the high of July at $0.04156 in the supply area.

This was the second time as the bullish momentum as signaled by the wicks in the candles and subsequent bears take over.

TRXUSD dropped initially to $0.03277 breaking the 10-EMA. The bears exert stronger pressure with many sellers taking position leading to a further drop in price to $0.03000 in the demand area.

The bears may continue the journey down south as confirmed by the signal of the stochastic oscillator pointing down at 38% coupled with price below the 10-EMA.

$0.02950 around the 50-EMA is the bears’ initial target. A break at the EMA will open $0.02650 in the demand area for a retest in the long-term.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

[Domain Disclosure] The crypto-community content sourced, created and published on BitcoinExchangeGuide should never be used or taken as financial investment advice. Under no circumstances does any article represent our recommendation or reflect our direct outlook. We b-e-g of you to do more independent due diligence, take full responsibility for your own decisions and understand trading cryptocurrencies is a very high-risk activity with extremely volatile market changes which can result in significant losses. Editorial Policy \ Investment Disclaimer

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Author: Azeez M