Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin continues to trade at around $62,300. Ethereum experiences no changes and stagnates at around $2,400. XRP is down by 2%, Solana by 1%, and Dogecoin by 3%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
Mining Difficulty
Bitcoin Mining Difficulty Declines, Is a Price Downtrend Imminent?
On June 5, it became easier to mine Bitcoin as its blockchain mining difficulty reduced by 9.29 percent. According to historical data, price and mining difficulty are positively correlated. Whenever mining difficulty decreases, it could be a sign of a forthcoming price decline. Bitcoin was brutally rejected at $10,400 price level on June 2 leading to an 11 percent decline in minutes and market participants are focused on BTC’s immediate move. Bitcoin halving is the most talked-about event so far in 2020 and a…
5 years ago