Mining will come back soon?

March 21, 2019

The main cryptocurrencies continue to trade with minimal volatility. As a result of the trading session on Wednesday, the Bitcoin price remained unchanged at around 4,060 dollars, Ethereum fell by a dollar to the level of 139, and XRP slightly strengthened to the level of 0.3190.

According to many experts, the price of Bitcoin is affected by the hashrate, and the increase of this indicator signifies that optimism in the digital currencies market, particularly among miners, not only persists, but also increases. The overall computational power in the Bitcoin network reached the indicators of the beginning of November 2018. Last year, along with the deep decline of the cryptocurrency market, the demand for mining devices dropped sharply. Nvidia equipment turned out to be unclaimed. Most of the video cards intended for mining Bitcoin and other coins remained in the warehouse. But the actual level of hashrate is more than four times higher than the figures that could be seen in December 2017, when the rate of bitcoin rose to a historical maximum of around $ 20000. This suggests that mining will be back soon. Thus, the largest manufacturer of video cards hopes to soon sell off the entire stock of equipment.

There are new details of the past tokensale company Celer Network. In 17 minutes, almost 600 million tokens from a total emission of 10 billion were sold. The selling price of publicly available tokens was $ 0.0067, so the project managed to raise almost 4 million. Tokensale was held at the Binance Launchpad. Despite all the measures taken by Binance, technical problems could not be avoided. As during the sale of BitTorrent tokens, the system was again overloaded. The company Celer today was the most popular of those held on the platform Binance Launchpad. The end of the tokensale caused increased volatility of BNB tokens in the market.

Parity Technologies has declared about a partnership with the Zcash Foundation, under which the first alternative client for the digital currency Zcash will be developed. Parity has enough experience in creating cryptocurrency wallets, the company has already developed wallets for networks Ethereum and Bitcoin. Representatives of the company promise that the new client for Zcash will be delivered open source, like other Parity Technologies projects.

Over the past week, the bitcoin exchange rate rose from $ 3.901 to $ 4.048, that is, almost 4% against the US dollar. The relatively strong short-term performance of Bitcoin led to the fact that alternative cryptocurrencies showed a significant increase in the dynamics of growth, allowing the ovearll capitalization of the crypto market to grow by almost $ 7 billion.

In our forecast for Thursday, we assume a slight increase in Bitcoin to the levels of 4080, 4100 and 4120 dollars, strengthening of Ethereum to the marks of 140, 142 and 145 dollars, and an increase in XRP to the levels of 0.3200, 0.3230 and 0.3260.

Cryptocurrency: Bitcoin

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