BITCOIN AND ALTCOINS GROWS AS DIFFICULTY DECREASES

Updated: 12/19/2018 19:31
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Mining difficulty decreased as the Bitcoin goes up within a day along with other large altcoins, Bitfinex Bitcoin rate, stats revealed
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Mining difficulty decreased as the Bitcoin goes up within a day along with other large altcoins, Bitfinex Bitcoin rate, stats revealed

On Wednesday night, December 19, the difficulty of mining Bitcoin fell by 9.5%, thereby increasing the profitability of mining cryptocurrency. At the moment, one Antminer S9 device with a 14 TH/s hashrate at the bitcoin price of $ 3,700 brings three times more profit at monthly fees of about $ 55.

Meanwhile, Bitcoin has risen in price for two days by $ 500 - up to $3900. Cryptocurrency aimed at the mark of $4000 in the wake of the pre-holiday growth. Following the bitcoin all other large altcoins grow as well. Bitcoin Cash stood out among the Top 10 coins (it was the Bitcoin Cash hardfork when the market began to fall, and last for a month): over the day, the cryptocurrency has gone up by 39% to $138.55 by the time of writing the news. XRP added 10.81% and is now trading at around $0.374. Ethereum, in its turn, struck $100 and rose to $ 105.56 (+ 10.98%).

Euphoria and positive short-term forecasts return to the market. Bitcoin's price on the Bitfinex crypto currency exchange at the time of preparing the material is $ 3850. Although the price of $ 6,500 is still far away and the fall from the highs of last month is still about 35%, the market has noticeably quickened, as well as the general mood of the crypto mining community. The total capitalization of the cryptocurrency added 26% in just a few days, and trading volumes increased more than double to $20.5 billion.

At the same time, it is worth noting that at the beginning of winter, Bitcoin's mining complexity underwent the second largest decline in its entire history - by 15% . On December 10 BitMEX analysts said that since November, the bitcoin network hashrate decreased by about 31%, along with a sharp drop in the price of the first cryptocurrency. Over the past month and a half, about 1.3 million Bitmain S9 mining devices have been disabled.

The total capitalization of the cryptocurrency market now amounts to 125.5 billion dollars.


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