Tesla Billionaire Elon Musk Issues Serious Bitcoin And Ethereum Warning—And Calls For ‘Maximizing’ Dogecoin Upgrade After Price Crash


Forbes 09 July, 2021 - 02:47am 18 views

When is ETH London hard fork?

Ethereum's long-awaited London hard fork is likely to launch on Aug. 4 between 13:00 UTC (9 a.m. ET) and 17:00 UTC, with block 12,965,000. Many Ethereum enthusiasts are excited for the delayed release, while some are watching on with “cautious optimism.” Yahoo FinanceEthereum’s London Hard Fork Expected to Launch on Aug. 4

TA: Bitcoin Reaches Key Juncture, Why BTC Could Struggle To Recover

NewsBTC 09 July, 2021 - 07:29am

Bitcoin failed to stay above the $33,500 support and it extended its decline. BTC even broke the $33,000 support zone and it settled well below the 100 hourly simple moving average.

The price even spiked below $32,200, but there was no follow through move. It is now consolidating losses above the $32,200 support zone. It is now approaching the 23.6% Fib retracement level of the recent decline from the $35,975 swing high to $32,150 low.

There is also a short-term contracting triangle forming with resistance near $33,000 on the hourly chart of the BTC/USD pair. The triangle support is near the $32,200 zone.

If bitcoin remains stable above the $32,000 support zone, it could start an upside correction. An immediate resistance on the upside is near the $33,000 level.

The first major resistance is near $33,500. It is near the 50% Fib retracement level of the recent decline from the $35,975 swing high to $32,150 low. If there is a close above the $33,500 resistance zone, the price could rise towards the $34,000 resistance. The main hurdle is still near the $35,000 zone.

Hourly MACD – The MACD is now losing pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now rising towards the 50 level.

Major Support Levels – $32,000, followed by $31,200.

Major Resistance Levels – $33,000, $33,500 and $34,000.

Aayush is a Senior Forex, Cryptocurrencies and Financial Market Strategist with a background in IT and financial markets. He specialises in market strategies and technical analysis, and has spent over a DECADE as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin and Ethereum markets.

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

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© 2020 NewsBTC. All Rights Reserved.

Bitcoin's mining revenue per TH/s recovers to mid-May levels

The Block Crypto 09 July, 2021 - 07:29am

The Block's Data Dashboard shows that the daily mining revenue per TH/s has climbed up to $0.27, after bitcoin's mining difficulty recorded its largest ever drop by nearly 28% on July 3.

Data from Bitinfocharts has a slightly different estimate on the daily mining revenue per TH/s, putting it at around $0.30. But it's showing a similar trend.

Bitcoin's record difficulty drop was a direct result of China ordering power plants to cut off the energy supply to bitcoin mining facilities over the last month. About 90 million TH/s of computing power on the bitcoin network had gone offline since mid-May, accounting for about 50% of the network's total hash rate.

But for bitcoin miners who have been able to stay online all the while, it means their daily shares of Bitcoin's block rewards have increased proportionately to the difficulty drop. 

When China materialized the efforts to crack down on bitcoin mining early June, The Block explained that the total vacant capacity offered by bitcoin mining hosting firms outside China is insufficient to fulfill all the demands from Chinese bitcoin miners who will be looking for hosting spots.

Following the shutdown orders in China's Xinjiang and Sichuan provinces, the secondhand market has been flooded with a spiking supply of millions of bitcoin ASIC miners that have been unplugged in recent weeks. The crackdown order has also affected Ethereum and other crypto miners, who have been dumping used graphic processing units on secondhand market places.

Therefore, industry experts are not expecting bitcoin's hash rate to recover to its all-time-high around 180 million TH/s anytime soon, giving more leeway to current miners in the months ahead.

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