Lens1000
VIP Contributor
Bitcoin mining is very essential in the cryptocurrency world because it is one of the factors that determine the price of bitcoin and as a result of the fact that the bitcoin mining has a lot of influence on market capitalisation of the bitcoin. This is seen in China when bitcoin mining was banned .
You could find out that it really affected the price of the bitcoin negatively as it pr declined so heavily to the extent that so many crypto bitcoin holders that do panic selling of their bitcoin holdings recorded huge losses in that process. This shows the importance of bitcoin mining in the market value of the pioneer cryptocurrency.
The bitcoin mining networks hit a new all-time high with over 400% increase since the crackdown in China. The hashrate hits a new record of 256 EH/s and it's a new milestone for the bitcoin network your showing tjat many miners have joined the bitcoin blockchain, resulting in the increase in the mining activities. This is a major milestone for the cryptocurrency because mining activities in the blockchain has a very strong effect on the market value and it is one of the most important thing that must be taken into consideration in market price determination of cryptocurrency.
You could find out that it really affected the price of the bitcoin negatively as it pr declined so heavily to the extent that so many crypto bitcoin holders that do panic selling of their bitcoin holdings recorded huge losses in that process. This shows the importance of bitcoin mining in the market value of the pioneer cryptocurrency.
The bitcoin mining networks hit a new all-time high with over 400% increase since the crackdown in China. The hashrate hits a new record of 256 EH/s and it's a new milestone for the bitcoin network your showing tjat many miners have joined the bitcoin blockchain, resulting in the increase in the mining activities. This is a major milestone for the cryptocurrency because mining activities in the blockchain has a very strong effect on the market value and it is one of the most important thing that must be taken into consideration in market price determination of cryptocurrency.