Bitcoin and Ethereum prices rebounded again, of course because they did
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For a moment Destroy it Ralph When Fix-It Felix, Jr. knocked on the railing on the window of his cell, hoping to escape imprisonment, his magic hammer strengthened the railing instead.Sometimes it seems that Bitcoin and Ethereum have a similar fascinating tool, because despite various difficulties, their Price rises again.
Bitcoin price Refused for a few months After China introduced new restrictions, it effectively halved the network’s hash rate and prevented financial services from supporting cryptocurrencies. It worked hard to stay above $30,000 in a few weeks, but according to the latest CoinDesk data, BTC is now worth about 45,500 USD.
Ethereum has also experienced a similar price drop. The value of its main token, ETH, dropped by half from its previous high of more than $4,100 throughout the summer. CoinDesk data The lowest price last month was approximately US$1,740, but at the time of writing it was approximately US$3,155. Jumba wamba May be proud of the flexibility of cryptocurrencies.
Both of these rebounds have highlighted the difference between the cryptocurrency market and the profitability of cryptocurrency mining.Even in the case of American lawmakers, the former is enjoying prosperity Consider stricter rules For digital assets. Although prices have not reached their peaks earlier this year, they are rising, which may bring bad news to the continuing GPU shortage.our GPU price index Continue to track the data on eBay, if the cryptocurrency continues to rebound, the price may rise.
But for the miners, the situation is still not good.China’s mining business is still Must find a new home After their government suppressed everything except Digital element. Ethereum Miners not long Until the transition of cryptocurrencies to the proof-of-stake model eliminated them and had to accept reduced profits.
The separation of rising prices in the crypto market and falling profitability in the mining industry may be a good thing for enthusiasts. What is good for goose (crypto market) is no longer good for males (miners), which hopefully means that goose (PC manufacturer) can enjoy improved GPU technology with peace of mind.
But we are not out of the predicament yet. Although direct Bitcoin mining requires dedicated ASIC equipment to be profitable, places like NiceHash allow the use of GPUs to run alternative algorithms and still get paid in Bitcoin.The devaluation of Ethereum is accompany go through Reduce graphics card prices In the secondary market and Spot prices fell Video memory, but these things can change quickly.
corporate investor, Tech brothers, And crypto enthusiasts may continue to wield their golden hammers, as long as they have the opportunity to magically repair the value of their digital assets. Hope that Ralph can continue to break the mining industry — or at least crack it enough to give PC manufacturers a breather.
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