W o r l d . C r y p t o . G l o b a l

Loading

Welcome at World Crypto Global. This portal is packed with useful content and resources to built out your own crypto skills. WorldCrypto is a site member of Gabriel Vega Network.

Contact Info

CATEGORY: bitcoin miners


China still controls 55% of Bitcoin hashrate despite crypto ban

Author: Cointelegraph by Zoltan Vardai
United States
Sep 24, 2024 12:00

China still controls 55% of Bitcoin hashrate despite crypto ban

China remains a major player in the Bitcoin mining industry despite imposing a blanket ban on cryptocurrencies in 2021.

Bitcoin miner wallets awaken after over 15 years  Is this Satoshi?

Author: Cointelegraph by Ezra Reguerra
United States
Sep 21, 2024 12:00

Bitcoin miner wallets awaken after over 15 years Is this Satoshi?

Five miner wallets that received block rewards weeks after Bitcoin launched have started moving their coins. 

Bitcoin outperformed nearly every asset class in past year  VanEck

Author: Cointelegraph by Alex O’Donnell
United States
Sep 21, 2024 12:00

Bitcoin outperformed nearly every asset class in past year VanEck

VanEck expects Bitcoins long-term bull market to continue, but miners are struggling.

Bitcoin Price Analysis: Whales, Miners, and Traders Signal Market Stability

Author: Arslan Tabish
Estonia
Sep 19, 2024 02:30

Bitcoin Price Analysis: Whales, Miners, and Traders Signal Market Stability

The Bitcoin community is currently facing a rather uncertain environment, which is characterized by both stability and opportunities for growth. While the cryptocurrency hovers around the $60k mark as of press time. A recent analysis from CryptoQuant presents various tactics from the new and old whales, miners, and Binance traders that shape the current and […]

Aug 31, 2024 12:00

Why crypto miners are ditching debt for equity

Crypto miners are moving away from debt and embracing stock dilution to fuel their AI and HPC ambitions, but the payoff is still uncertain.

Aug 04, 2024 12:05

Bitcoin Hashrate Nears Record Levels Amidst Price Decline Details

According to data from CoinMarketCap, the price of Bitcoin (BTC) has taken a nosedive this week falling by 9.03% to trade below the $62,000 price mark. This negative price action brings the assets net gain over the last month to a mere 0.20%, indicating a period equally influenced by both buyers and sellers. As Bitcoin now attempts to find a support level, blockchain analytics platform CryptoQuant has revealed certain elating developments in the token mining space. Related Reading: Bitcoin Miner Capitulation Comes To An End Time To Buy BTC? Bitcoin Miners Hashrate 2% Away From Network ATH On Friday, CryptoQuant shared on X that the Bitcoin miner hashrate has been on the rise this last week, reaching as high as 604 exhashes/second (EH/S). According to the analytics team, this value represents a 6% gain from the lows on July 9 but remains 2% off the network’s current all-time high hashrate value.  Cryptoquant report states that Bitcoin miners are currently enjoying a better pay condition compared to April as daily mining revenues have grown by over 50% since early July, thus reducing the need to offload their assets. This is proven evidently as daily Bitcoin miner outflows stayed between approximately 5000 – 10,000 BTC in July, showing a notable decrease from the range of 10,000 – 20,000 BTC seen in early March when Bitcoin reached the $70,000 price mark. Generally, the Bitcoin hashrate measures the total computational power used to mine and process transactions on the Bitcoin network. It is a crucial indicator of miners confidence in BTC, with an increase signaling belief in mining the token due to profitability from current or future prices.  However, the ability of Bitcoin miners to sustain their recent performances despite the tokens recent dip could prove pivotal in initiating a market price rebound, especially as a sell-off by these miners could further drive down the tokens price. Nevertheless, a future decline in hashrate is a more likely scenario as miners profitability is largely depends on Bitcoins price in addition to network fees. Related Reading: Bitcoin Miners Slow Down Selling In July, What This Could Mean For Price BTC Price Overview  At the time of writing, Bitcoin trades at $61,387 with a loss of 5.05% in the last 24 hours. Meanwhile, the assets daily trading volume is barely up by 5.35% and is valued at $42.9 billion. Historical price data indicates BTC may currently be in the support zone, however, any further decline past this level could result in prices as low as $55,000 as seen in early July. Alternatively, if the crypto market eventually finds some stability in this zone, a return to the $70,000 price zone is on the cards. Featured image from Reuters, chart from Tradingview

TeraWulf launches new Bitcoin mining facility, eyes major tech partnership

Author: Cointelegraph by Zoltan Vardai
United States
Aug 30, 2024 12:00

TeraWulf launches new Bitcoin mining facility, eyes major tech partnership

TeraWulf claims to be the most profitable miner on a per-share basis, with an average production cost of $40,000 per Bitcoin.

Aug 28, 2024 05:50

Bitcoin Analyst: 4 Crucial Support Levels To Watch If BTC Falls

Bitcoin is trending lower when writing, cooling off after the encouraging leg up on August 23. Although the uptrend remains, and the coin is not far away from $63,000, there is no discounting the possibility of sellers pressing on. The alignment with the dip of early August could trigger another wave of liquidation, causing panic. [...]

The post Bitcoin Analyst: 4 Crucial Support Levels To Watch If BTC Falls appeared first on Crypto Breaking News.

3 reasons why Bitcoin wont be boring in September

Author: Cointelegraph by Biraajmaan Tamuly
United States
Aug 21, 2024 12:00

3 reasons why Bitcoin wont be boring in September

While Bitcoin failed to close above the $60K psychological level on the weekly chart, the long-term holders (LTHs) continue to adopt a bullish strategy in 2024.

Aug 13, 2024 05:50

Bitcoin Traders Cautious Despite Massive Stablecoin Inflow: Whats Next For BTC?

Bitcoin buyers might be upbeat after the uptick on August 8. While traders are waiting for a conclusive close above $63,000, confirming bulls of the second half of last week, on-chain data points to risk and traders staying on the sidelines. Traders Cautious: Will The Bitcoin Consolidation Continue? Taking to X, one on-chain analyst said. [...]

The post Bitcoin Traders Cautious Despite Massive Stablecoin Inflow: Whats Next For BTC? appeared first on Crypto Breaking News.

Aug 02, 2024 01:25

Bitcoin Hashrate Hits All-Time High as Trump Vows to Boost Industry

Bitcoin's 7-day average mining hashrate has hit a new all-time high above 667 exahashes per second during the Bitcoin 2024 conference, reflecting greater security and fundamentals.

Jul 29, 2024 12:05

Bitcoin Miner Capitulation Comes To An End Time To Buy BTC?

Indeed, the Bitcoin price has been on a hot streak in recent weeks, returning to its past heights most investors have become accustomed to. However, the past week was a somewhat quiet one for the premier cryptocurrency, as it was for most of the digital asset market. Interestingly, the latest on-chain insights suggest that the crypto market, specifically the Bitcoin market, might not be inactive for too long.  BTC Price Momentum Shifts To Positive – Impact On Price? In a recent post on the X platform, popular crypto pundit Ali Martinez revealed that Bitcoin miner capitulation has seemingly come to an end. This on-chain observation is based on a shift in the Glassnode Hash Ribbon indicator, which measures BTCs hash rate. Related Reading: Analyst Predicts Solana Rise To $1,400 As Similarities With July 2021 Emerge Typically, the Hash Ribbon features two moving averages; including the short-term (30-day) and long-term (60-day) hash rate. A cross of the short-term moving average below the long-term moving average implies miner capitulation, which is characterized by widespread sell-offs by miners. On the other hand, when the 60-day ribbon falls under the 30-day ribbon, it indicates the end of capitulation and the potential start of a recovery phase for the network. As shown in the chart below, this positive cross appears to be the current situation for Bitcoin, signaling an optimistic future for the flagship cryptocurrency. Ultimately, this means that Bitcoin miners are returning to the network and restarting operations, as they become more profitable. From a historical standpoint, the end of miner capitulation is a bullish sign, as it often precedes significant price leaps for the premier cryptocurrency. Martinez highlighted this in his post on X, saying this could present good buying opportunities. Another indicator that supports this on-chain revelation is the Bitcoin Miner Profit/Loss Sustainability metric, which measures how fair miner revenues are. According to the latest data from CryptoQuant, the BTC miners have been making some profit over the past few days, putting them in the fairly paid region of the indicator. Bitcoin Price At A Glance As of this writing, the price of Bitcoin stands at around $68,230, reflecting a mere 0.7% increase in the last 24 hours. As earlier inferred, the premier cryptocurrency had an uneventful week in terms of price action, dancing between the $64,000 and $68,000 range. Related Reading: Crypto Backs Donald Trump: $4 Million War Chest In Bitcoin, XRP For Re-election According to data from CoinGecko, the BTC price increased by barely 1% in the past week. Nevertheless, the cryptocurrency retained its position as the largest digital asset in the sector, with a market capitalization of more than $1.33 trillion. Featured image from iStock, chart from TradingView

Jul 03, 2024 12:05

Bitcoin Miners Slow Down Selling In July, What This Could Mean For Price

On-chain data shows that selling pressure from Bitcoin miners has recently slowed down. This is significant considering the impact it could have on Bitcoins price heading into the third quarter of the year.  Bitcoin Miners Selling Pressure Has Significantly Declined Referencing data from the on-chain analytics platform CryptoQuant, crypto analyst Crypto Dan noted that selling pressure from miners has significantly declined for two reasons. One is that the quantity of Bitcoin these miners sent to exchanges to sell has reduced drastically since May.  Related Reading: Dogecoin Flashes Major Bullish Signal On 3-Day Chart, Heres The Target Secondly, the crypto analyst mentioned that the volume of the OTC Desk that miners use for selling has been consumed, suggesting that someone recently bought up all the available Bitcoin supply from these miners. The volume of the OTC Desk is said to have piled up until June 29th, as there was no willing buyer to purchase these crypto tokens.    Bitcoin miners greatly contributed to the price crashes the flagship crypto suffered in June. Data from the market intelligence platform IntoTheBlock showed that these miners sold 30,000 BTC ($2 billion) throughout the month. This put significant selling pressure on Bitcoin, which caused it to drop below $60,000 at some point.  As such, the decline in selling pressure presents a bullish development for Bitcoin and could continue the bull run for the flagship crypto. Crypto Dan noted that this development has created sufficient conditions to continue the upward rally for Bitcoin in this third quarter of the year.  Crypto analyst Willy Woo had also previously predicted that Bitcoins price would recover once miners capitulate. With that out of the way, Bitcoin could enjoy an upward trend this month and make massive moves to the upside.  BTC’s Uptrend Has Begun Crypto analyst Rekt Capital noted in a recent X (formerly Twitter) post that Bitcoins uptrend has begun. He claimed that the macro higher low has been confirmed, and Bitcoin is now rallying to the upside. He added that the flagship crypto is developing a macro bull flag, providing a bullish outlook for the crypto token.  Related Reading: Bitcoin Investors Place $500 Million In Spot BTC Bids Below Market Price In another X post, the crypto analyst remarked that the goal for Bitcoin following its strong start to July is to build a foundation from which it will be able to springboard to the Range High area at $71,500 over time. Crypto analyst Michaël van de Poppe also suggested that Bitcoins downtrend is over and a bullish reversal was underway as the flagship crypto makes significant moves to the upside. He also mentioned that he believes that Bitcoin has bottomed out and has found support at $60,000, meaning a decline below that price level anytime soon was unlikely.  At the time of writing, Bitcoin is trading at around $62,900, down in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com

Jul 12, 2024 12:05

Binance Bought A Whooping 41,000 BTC During The Dip: Did They Save The Bitcoin Market?

Bitcoin is moving sideways at press time, absorbing the wave of selling over the last week. Even though there are some optimists, the candlestick arrangement in the daily chart points to weakness. This preview, at least from a technical angle, remains as long as prices trend below the round number of $60,000 and the liquidation level at around $66,000. Binance Bought The Bitcoin Dip Amid the recovery, one analyst, pointing to interesting on-chain data, observed that when prices fell last week, some unnamed exchanges were loading up the dip. It is now emerging that Binance, the world’s largest exchange by client count, was actively accumulating. CryptoQuant data shows that Binance increased its reserves by 41,000 BTC over the last bear run when prices corrected from $72,000. Buying on dips is strategic, considering the exchange’s obligation, especially for users seeking to convert other tokens for BTC on the fly instantaneously. Related Reading: XRP Set To Skyrocket 60,000% On Tightest Bollinger Bands Ever: Analyst During this time, Ki Young Ju also noted that “permanent holders,” entities who tend to HODL and not move coins, have been accumulating. These addresses, excluding spot Bitcoin exchange-traded fund (ETF) issuers, exchanges like Binance and Coinbase, or miners, added 85,000 BTC in the last month. During this time, spot Bitcoin ETF issuers decreased their holding by 16,000 BTC. While some entities were scrambling for the exits, others saw this as an opportunity to double down, loading on every retracement. Their involvement has helped stabilize prices, improving sentiment shredded after last week’s dump to as low as $53,500. German Government Offloading More BTC Even as the “diamond hands” buy the dip, the German government is not stopping; looking at Arkham Intelligence data. Today, on July 11, they moved another 3,250 BTC, on top of the 5,627 sent earlier, to multiple market makers and exchanges, including Bitstamp. Their decision to sell is heaping more pressure on the coin, slowing down the uptrend. Even amid sustained outflows from the German government, a Coingecko survey shows that most respondents, especially investors, are upbeat. Related Reading: Filecoin Boom Incoming? Market Optimism Fuels Cryptos Next Breakout Star Meanwhile, traders and speculators have mixed sentiments. While 39% of traders are upbeat, expecting prices to recover, another 33.5% of those surveyed are bearish. Most speculators, or 42.4% of those surveyed, are bearish, expecting prices to continue tanking. Feature image from DALLE, chart from TradingView

Runes TXs on Bitcoin tank over 88% in June

Author: Cointelegraph by Brayden Lindrea
United States
Jul 01, 2024 12:00

Runes TXs on Bitcoin tank over 88% in June

Bitcoin miners have earned less than 2 Bitcoin combined from Runes transactions over the past six days, a significant decrease from the record high of 884 Bitcoin on April 24.

Jun 29, 2024 05:50

Market Tremors: $10 Billion in Bitcoin Dumped in May Alone, What Does This Signal?

Meet Samuel Edyme, Nickname – HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edymes foray into the crypto universe is nothing [...]

The post Market Tremors: $10 Billion in Bitcoin Dumped in May Alone, What Does This Signal? appeared first on Crypto Breaking News.

Bitcoin miner sell pressure weakening as BTC withdrawals drop 85%

Author: Cointelegraph by William Suberg
United States
Jun 29, 2024 12:00

Bitcoin miner sell pressure weakening as BTC withdrawals drop 85%

BTC withdrawals from miner-affiliated wallets have gone from above 50,000 per day to under 10,000 since the halving, data shows.

Bitfarms adds board member to deter Riot Platforms takeover

Author: Cointelegraph by Arijit Sarkar
United States
Jun 29, 2024 12:00

Bitfarms adds board member to deter Riot Platforms takeover

Despite initially planning to buy all Bitfarms shares at $2.30 per share, Riot withdrew the offer, stating that cooperating with Bitfarms current board was difficult.

Jun 26, 2024 12:05

Bitcoins Correction Is Not Done: $54K Could Be On The Horizon, Says Top Analyst

Recent trends in the Bitcoin market have shown a significant flushing out of leverage, a process commented on by prominent crypto analyst Willy Woo. While this corrective phase has seen Bitcoin’s price fall to as low as $58,000 yesterday, it has partially rebounded, currently trading around the $61,500 mark. However, the journey could be smoother, as ongoing liquidations and market adjustments pose challenges. Related Reading: Is The Bitcoin Bottom In? Heres What 7 Experts Say Analyzing The Depth Of Current Market Correction Woo’s insights highlight that Bitcoin’s market correction hasn’t been done despite the recent recovery. Particularly, the market continues to grapple with the impact of post-halving miner capitulations and the high costs associated with mining hardware upgrades. These factors contribute to the ongoing pressure on weaker miners, forcing them out of the market and potentially leading to further price drops. According to Woo, while Bitcoin has slightly recovered, the overall market sentiment remains cautious. Technical indicators suggest that although Bitcoin could rebound from recent lows, there is still potential for a further drop. Short term technicals point to a reversal playing out here. 2 hours away from a TD9 reversal on daily candles. If this plays out, then we go into a hidden bullish divergence to correct for the overselling of the market. pic.twitter.com/TPWRhmeGYn Willy Woo (@woonomic) June 24, 2024 Woo predicts that Bitcoin could see a descent to $54,000 if current support levels fail. This key threshold may trigger another round of liquidations and potentially usher in a bearish phase for short-term holders. The importance of this price level lies in its role as a demarcation line between bearish and bullish market regimes. Falling below it, especially given the current macroeconomic setup, could significantly affect Bitcoin’s price trajectory. Bitcoin Bearish Market Ongoing, But Don’t Despair Adding to the conversation, Billy Markus, co-creator of Dogecoin, shares a somewhat philosophical take on handling the current crypto market’s bearish phase. He advises investors to view their crypto investments with detachment, likening it to “throwing money into a fire.” Such a mindset, he argues, could help weather the emotional rollercoaster of market ups and downs. Related Reading: SkyBridge Capitals Scaramucci Says Bitcoin Will Reach $250,000 Is This US Presidential Candidate Wins Meanwhile, renowned investor Robert Kiyosaki, author of “Rich Dad Poor Dad,” expressed his strategy in light of the recent downturn. Kiyosaki, a vocal supporter of Bitcoin, views the current price dip as a buying opportunity, advocating a long-term investment approach akin to Warren Buffett’s philosophy of “buy and hold on forever.” Bitcoin is crashing. Most people should sell. I am waiting to buy more. All markets go up and down. Many people make a lot of money trading markets which means buying low and hopefully selling low. The problem with trading any asset is taxes, specifically short term Robert Kiyosaki (@theRealKiyosaki) June 24, 2024 Featured image created with DALL-E, Chart from TradingView

Jun 22, 2024 12:05

Survival of the Fittest: Heres How Bitcoins Next Rally Hangs on Miner Capitulation

Amidst a backdrop of declining Bitcoin prices and economic uncertainty, renowned crypto analyst Willy Woo has offered a forecast that suggests a complex road ahead for BTC, with potential gains on the horizon after some ‘inevitable’ turbulence. Bitcoin Rally Hangs On Miner Capitulation, How? Bitcoin’s current market behavior is largely influenced by its miners, whose actions can significantly impact its price. According to Willy Woo, the key to understanding when Bitcoin might start its recovery lies in observing miner capitulation and the subsequent recovery of the hash rate. Related Reading: Bitcoin And Solana Brace For Quiet Q3: What Crypto Traders Should Know Miner capitulation occurs when less efficient miners, unable to sustain profitability, are forced to sell their holdings and exit the market. This phase is critical as it typically decreases selling pressure, allowing for market consolidation and setting the stage for potential price increases. Woo points out that this cycle is not a quick one. Historical data from previous Halving events, which reduce the reward for mining Bitcoin, show that recovery can take time. I’ll break it down in simple terms. When does #Bitcoin recover? It’s when weak miners die and hash rate recovers. This one is for the record books as it’s taking a lot of time for miner capitulation post-halving. Probably can thank ordinal inscriptions boosting profits. pic.twitter.com/19MB0b8mHO Willy Woo (@woonomic) June 20, 2024 The current cycle appears prolonged, with miners taking longer than usual to capitulate due to the profitability provided by new market mechanisms like ordinal inscriptions. This extended adjustment period might be difficult for investors, but it is a necessary step toward achieving a healthier market. Key Indicators to Watch: Hash Ribbons and Market Signals Willy Woo emphasizes the importance of monitoring Bitcoin’s hash ribbons. This indicator provides insights into the economic viability of Bitcoin mining. Related Reading: Bitcoin Miners Reserves Deplete Amidst High OTC Selling, What This Means A reduction in hash ribbons suggests that the cost of mining is becoming more aligned with the market price of Bitcoin, signaling that the worst of the sell-off may be over and a recovery could be forthcoming. In addition to hash ribbons, Woo advises investors to keep an eye on broader market signals. Here’s a view of just how much paper bets on #Bitcoin there is right now. The solid yellow chart is a z-score oscillator looking at how significant it is locally. We need a solid amount of liquidations still before we get the all clear for further bullish activity. https://t.co/tswxQwxlc1 pic.twitter.com/TwGG5tf50z Willy Woo (@woonomic) June 19, 2024 For instance, the current speculative environment in Bitcoin, marked by a high volume of theoretical trading, requires a series of liquidations to achieve market balance. This clean-up phase, although painful, is essential for setting a solid foundation for the next bull run. The analyst noted: I know it sucks, but BTC is not going to break all time highs until more pain and boredom plays out. On the bright side, miners are capitulating and when that is through, it nearly always ends in a huge rally. Look for compressions in this ribbon. Buy and hodl in these regions. Featured image from DALL-E, Chart from TradingView

Your Crypto Gateway

Claim 1,000
Free WCG Coins

World Crypto Global opens the door to digital freedom for everyone.
Manage your free WCG Coins securely—where simplicity meets global accessibility.

11 bn

FREE CRYPTO COINS

8.9 bn

AVAILABLE FOR RESERVATION

2.1 bn+

ALREADY ALLOCATED

× WCG Coin

🎉 Get 1,000 WCG Coins

No fees. No catch. Your crypto journey starts here.