Bitcoin
BTC$19 601.45

1.08%

Ethereum
ETH$1 069.36

1.22%

Tether
USDT$0.998838

-0.01%

USD Coin
USDC$1.000222

0.01%

Binance Coin
BNB$222.98

5.98%

Binance USD
BUSD$1.001650

0.21%

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 53.6% 94 $19 601.45 1.08% -6.16% $374 035 671 245 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 58.8% 91 $1 069.36 1.22% -6.90% $129 781 761 094 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 92.8% 1 $0.998838 -0.01% -0.05% $66 155 226 088 USDT 7 days price change
4 USD Coin (USDC) USDC USD Coin predictions 91.2% 1 $1.000222 0.01% 0.01% $55 814 989 943 USDC 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 59.6% 84 $222.98 5.98% -3.62% $36 406 780 076 BNB 7 days price change
6 Binance USD (BUSD) BUSD Binance USD predictions 90.8% 1 $1.001650 0.21% 0.09% $17 576 185 471 BUSD 7 days price change
7 Cardano (ADA) ADA Cardano predictions 62% 77 $0.456735 1.28% -7.20% $15 498 880 430 ADA 7 days price change
8 XRP (XRP) XRP XRP predictions 66.4% 72 $0.318666 0.10% -14.11% $15 405 296 738 XRP 7 days price change
9 Solana (SOL) SOL Solana predictions 62% 74 $33.22 4.79% -13.37% $11 402 674 515 SOL 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 63.6% 76 $0.066230 1.84% 1.89% $8 786 721 543 DOGE 7 days price change
11 Dai (DAI) DAI Dai predictions 96% 1 $1.000583 0.09% 0.06% $6 781 768 129 DAI 7 days price change
12 Polkadot (DOT) DOT Polkadot predictions 64.4% 72 $6.79 0.01% -14.24% $6 708 513 693 DOT 7 days price change
13 TRON (TRX) TRX TRON predictions 55.2% 91 $0.065271 2.22% 1.89% $6 037 017 196 TRX 7 days price change
14 UNUS SED LEO (LEO) LEO UNUS SED LEO predictions 74.8% 55 $6.05 2.00% 4.28% $5 770 009 473 LEO 7 days price change
15 SHIBA INU (SHIB) SHIB SHIBA INU predictions 64% 71 $0.000010 2.69% 0.29% $5 612 816 170 SHIB 7 days price change

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