The price of major digital currencies such as Bitcoin, Ethereum, Litecoin changed several times during the weekend. In this situation, people should pay more attention to the cryptocurrency market. There are many factors which affect the price of Bitcoin and other cryptocurrencies.
It is no secret that more than 85 % of the total Bitcoins have been mined. Let’s have a look at the process of crypto mining. Last week on Friday, Bitcoin’s two-week hash rate broke another major threshold. It achieved 85 exahashes per second (EH/S) this happened around 19:00 UTC.
Another news connected to crypto mining is that computing power used in Bitcoin mining reached another record. This was possible thanks to 600,000 new machines which most likely became operational during the last three months.
Based on the information from crypto mining pool BTC.com EH/s as well as computing power increased by 60% since June 14.
The Bitcoin’s mining difficulty level as it connected EH/s.The difficulty level is close to 12 trillion, which is a new record. To have a better understanding, it is a good idea to explain what Bitcoin’s mining difficulty is and how it works.
Bitcoin’s mining difficulty measures how hard it is to create a block of transactions, adjusts after 2.016 blocks or roughly every two weeks. This is done to ensure that the time to produce new blocks will be around 10 minutes. The hashing power which is used by computers around the world are trying to win the freshly minted bitcoins is subject to change.
The primary reason why the hashing power managed to reach such result of the news models ASIC miners. Asic is an application-specific integrated circuit miner.
Digital currencies on September 16
The price of the biggest cryptocurrency remains above $10,000. At the moment, Bitcoin’s price is $10,137. There is a possibility that price might reach even better results during the upcoming days.
Litecoin’s price is $71.37.
The price of another cryptocurrency which is Ethereum surpassed $190 level. Ethereum not only broke the resistance level above $190, but it even managed to break the next level. Right now, Ethereum’s price is $194.
