Bitcoin
BTC$16 874.70

3.65%

Ethereum
ETH$1 266.25

6.98%

Tether
USDT$0.999728

0.01%

Binance Coin
BNB$296.30

-0.06%

USD Coin
USDC$0.999939

-0.03%

Binance USD
BUSD$1.000196

0.03%

China is massively shutting down miners


25 Jun 2021

#Bitcoin

Bitcoin has been losing more than 4% in the last 24 hours and changing hands for $ 32,600. In general, this can be considered good news for the cryptocurrency market, since the coin still confidently bounced above an important technical and psychological level and is still quite confidently holding there. Cryptocurrency price dynamics are broadly mixed, reflecting investor confusion and a willingness to wait and see until clearer fundamentals emerge. The situation can be seriously affected by the development of events with mining and hash rates.

At the moment, the computing power of the network is dramatically falling, as Chinese miners massively shut down their equipment. This will not lead to the collapse of the blockchain, however, it significantly affects the mood, in addition, it is generally accepted in the crypto market that the direction of the Bitcoin price depends on the direction of the hash rate. The largest mining pools are moving to different countries. 

So, for example, BTC.com moves to Kazakhstan. However, there are more interesting destinations like Miami, where the mayor personally invited the Chinese miners. “Nevertheless, miners still fear that they will face significant cost increases and hidden legal problems. For the sector as a whole, the current process is more positively assessed, since the dispersal of Chinese computing power around the world will mean more decentralization, which in the long term will have a positive effect on the Bitcoin exchange rate”, said the FxPro analyst team.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 59.2% 81 $16 874.70 3.65% 1.89% $324 337 050 706 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 61.6% 79 $1 266.25 6.98% 8.69% $154 955 601 290 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 93.6% 1 $0.999728 0.01% 0.07% $65 344 934 206 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 68.4% 65 $296.30 -0.06% 8.15% $47 398 738 411 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 90.8% 1 $0.999939 -0.03% -0.04% $43 268 973 600 USDC 7 days price change
6 Binance USD (BUSD) BUSD Binance USD predictions 92.8% 1 $1.000196 0.03% -0.09% $22 374 674 909 BUSD 7 days price change
7 XRP (XRP) XRP XRP predictions 66% 66 $0.401945 4.59% 6.55% $20 213 805 129 XRP 7 days price change
8 Dogecoin (DOGE) DOGE Dogecoin predictions 57.2% 85 $0.106316 5.04% 30.08% $14 104 970 590 DOGE 7 days price change
9 Cardano (ADA) ADA Cardano predictions 60.4% 81 $0.313237 1.61% -1.08% $10 787 813 925 ADA 7 days price change
10 Lido stETH (STETH) STETH Lido stETH predictions 96% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
11 Polygon (MATIC) MATIC Polygon predictions 64.8% 72 $0.859004 3.26% -0.55% $7 502 809 463 MATIC 7 days price change
12 Polkadot (DOT) DOT Polkadot predictions 65.6% 67 $5.39 4.32% -0.09% $6 145 246 302 DOT 7 days price change
13 Dai (DAI) DAI Dai predictions 91.2% 1 $0.999629 -0.07% -0.19% $5 639 262 730 DAI 7 days price change
14 Litecoin (LTC) LTC Litecoin predictions 66% 74 $78.44 3.69% -3.79% $5 626 037 116 LTC 7 days price change
15 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 66.4% 66 $0.053898 1.37% 5.61% $5 480 160 672 WTRX 7 days price change

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