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Bitcoin price drops below $7300 but miners aren’t cutting back
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Date：2024-04-10 19:54:25 Channel：Build Read：
Amid the turmoil in the digital currency market, the price of Bitcoin broke through the psychological barrier of $7,300, causing an uproar in the market. However, at the same time, an abnormal phenomenon appeared among the diggers: their number did not decrease, but showed an increasing trend. What is the story behind this phenomenon? Let’s dig into it.The background of the decline in Bitcoin pricesThe four most famous international exchanges:
Binance INTL
OKX INTL
Gate.io INTL
Huobi INTL
China Line APP DL China Line APP DL
China Line APP DL
China Line APP DL
Note: The above exchange logo is the official website registration link, and the text is the APP download link.
Bitcoin has always been the leader in the digital currency market, and its price fluctuations have affected the entire industry. When the price of Bitcoin fell below the critical point of $7,300, there was a strong panic in the market. Investors have begun to consider selling their Bitcoins to avoid risks. This chain reaction has led to a continued decline in the price of Bitcoin and dark clouds in the market.The growth phenomenon of diggersHowever, just as the market is in chaos, the digger group has shown a trend that is completely opposite to the market trend: the number is growing. This seems to be a counterintuitive phenomenon, but it actually exists in the field of digital currency mining. Miners did not give up because of the decline in Bitcoin prices. On the contrary, they chose another path and continued to move forward firmly.The logical analysis behindThere is actually a rational logic behind this phenomenon. Amid the fluctuations in the digital currency market, diggers know that price fluctuations are only superficial phenomena of the market, while the essence of digital currency technology is the key to long-term development. Therefore, they choose to believe in Bitcoin and the blockchain technology behind it, and continue mining firmly to contribute to the security and stability of the entire network.Digger’s sense of missionFor miners, mining is not only about obtaining digital currency returns, but also a belief and sense of mission in blockchain technology. They know that the development of blockchain technology cannot be separated from the support of mining nodes, and every miner is an indispensable part of the entire network. It is this sense of mission that allows them to stick to their original aspirations even when the market is turbulent, and silently contribute to the development of the entire industry.Future Outlook for Bitcoin PriceAlthough the short-term fluctuations in Bitcoin prices have cast a shadow on the market, for long-term development, this may be just a necessary wash. The growth of miners against the trend demonstrates their firm belief in blockchain technology and injects positive energy into the entire industry. Perhaps, when the price of Bitcoin stabilizes and rises again, this belief and sense of mission will become a powerful driving force for the development of the industry.Conclusion
BTC fluctuated at $7,300, down 0.53%
The cryptocurrency market generally fell after early morning, with BTC fluctuating around US$7,300, and the current price is US$7,305.55, a decrease of 0.53%. The current price of ETH is US$564, a decrease of 1.30%, and the current price of BCH is US$984.89, a decrease of 0.53%.
Bitcoin price drops, but number of miners increases
According to btcmanager.com, a report on May 25, 2018 stated that even if the price of Bitcoin plummeted, the number of miners in the Bitcoin blockchain continued to grow. While statistics suggest there won’t be a bull market in the short term, the increase in the number of miners shows that people still have confidence in Bitcoin.
Zhejiang University establishes Fangtu Blockchain Research Center
Recently, the Fangtu Blockchain Research Center of Zhejiang University was established. It is understood that so far, Zhejiang University has applied for 6 blockchain patents and published 7 blockchain papers. At the same time, Zhejiang University will launch the "Blockchain and Digital Currency" course for some senior undergraduates and graduate students in September this year.
Latest Bitcoin Scam: Asking for Cryptocurrency in Exchange for Lost Dog
According to CCN news, Patricia of Youngswell, North Carolina
Howell's pet dog was suspected of being stolen by criminals. Afterwards, Howell was asked to pay a ransom worth $600 in Bitcoin in exchange for the pet dog, but Howell said it was a scam because she had already brought the dog back.
When Howell posted information about his lost dog on Facebook, criminals took advantage of it and tried to blackmail him using Bitcoin.
Ren Zeping of Evergrande Research Institute: The blockchain industry has gradually entered the end of the early stage
Ren Zeping said in the latest report of Evergrande Research Institute that more than 95% of the financing events of global blockchain-related companies are in the seed round, angel round and round A stage, while round B and beyond only account for 3%, which shows that the current industry is still In early stages.
After 2014, the number of VC financing rounds gradually decreased, and the average round investment size gradually increased, indicating that the industry has gradually entered the end of the early stage.
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