Bitcoin’s historically rising prices
Miners may be in trouble, but VanEck says that’s historically been a terrific time to buy Bitcoin.
Researchers at the global investment manager indicate that Bitcoin’s hashrate — the measure for how much compute power is used to mine Bitcoin — has fallen more in the last 30 days than it has since April 2024.
This drop, along with Bitcoin’s declining price, suggests that mining outfits are going offline as profitability is squeezed. The price of Bitcoin is trading at $87,500 on Tuesday, roughly 30% below its all-time high set in October.
As a key industr
Miners may be in trouble, but VanEck says that’s historically been a terrific time to buy Bitcoin.
Researchers at the global investment manager indicate that Bitcoin’s hashrate — the measure for how much compute power is used to mine Bitcoin — has fallen more in the last 30 days than it has since April 2024.
This drop, along with Bitcoin’s declining price, suggests that mining outfits are going offline as profitability is squeezed. The price of Bitcoin is trading at $87,500 on Tuesday, roughly 30% below its all-time high set in October.
As a key industr
2 months ago
