Bitcoin's surge this quarter is remarkable, with an increase of nearly 28%, which has once again set off a sensation in the market. At the same time, Bitcoin mining activities have become profitable again, attracting more people to join in. This phenomenon has not only sparked heated discussions among investors, but also brought new vitality and opportunities to the entire cryptocurrency field.

In the past few months, the price of Bitcoin has been climbing all the way, soaring from a few thousand dollars to the current tens of thousands of dollars, which is astonishing. Behind this rise is the gradual recovery of market confidence in cryptocurrencies and the increasing recognition of digital assets worldwide. Bitcoin is no longer just a speculative tool, but is also seen as a safe-haven asset, attracting more and more funds to flow into it.

The rise of Bitcoin is not accidental, and it carries the influence of many factors behind it. First, the global macroeconomic situation has played an important role in the trend of Bitcoin prices. In recent years, central banks of various countries have introduced quantitative easing policies, resulting in the depreciation of traditional currencies, and Bitcoin, a decentralized digital currency, has become one of the options for people to avoid risks. Secondly, with the continuous development and improvement of blockchain technology, the security and stability of Bitcoin have been improved, attracting the attention and involvement of more institutional investors.

Against this background, Bitcoin mining has once again become a hot topic. As the price of Bitcoin rises, the benefits of mining also increase, attracting more miners to join the Bitcoin network. According to statistics, the global Bitcoin computing power has recently shown a rapid growth trend, and the difficulty of mining is also increasing. However, even in the face of increasingly fierce competition, many miners have obtained considerable benefits by improving equipment performance and finding cheaper electricity.

In addition to traditional mining, more innovative mining methods have emerged in recent years. For example, cloud mining, mining machine hosting and other methods have gradually become the choice of miners. These new mining methods not only lower the threshold of mining, but also improve efficiency, attracting more ordinary investors to participate. At the same time, some countries and regions have also begun to pay attention to the development of the mining industry and introduced relevant support policies, further promoting the development of the Bitcoin mining industry.

In general, the surge in Bitcoin and the reappearance of mining profits are not only an excitement in the field of digital currency, but also a microcosm of the transformation of the global financial system. With the continuous evolution of blockchain technology and the continuous maturity of the Bitcoin market, we have reason to believe that Bitcoin and its derivative applications will show a broader development space in the future. Let us wait and see and witness the continued evolution of this digital revolution.

The 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.

The market is once again volatile as Bitcoin price continues to struggle to reach the $12,000 level. Much like last weekend, the week started out positively with the digital asset surging to $12,000, but then immediately dropped $500 before bulls seemed to want to start testing that high again.

From a technical perspective, Bitcoin's 14-day relative strength index (RSI) rose above 70, a level that would be considered overbought if exceeded. Matt Maley, chief market strategist at Miller Tabak & Co, said, "It looks like it wants to test the 2019 high of $13,800 before seeing a meaningful correction to remove this overbought condition."

But for others, the first major milestone Bitcoin has to break is the all-time high of $20,000, which is a clear sky for the digital asset. "The $10,000 level represented a strong psychological barrier for Bitcoin over the past few years," said Quantum Economics founder Marty Greenspan. "Now that barrier has been broken, there is no major resistance level on the chart until the all-time high of $20,000."

Since the start of the quarter, Bitcoin has risen nearly 28% and has risen more than 60% so far this year. Cryptocurrency market analyst Rekt
capital said the Bitcoin bull run is "confirmed."

He said, "A strong 12-month close above $14,300 by the end of 2020 will still keep the momentum going. A 12-month close above $14,300 and Bitcoin will be well positioned to reach new all-time highs in 2021."

There has been a strong trend of Bitcoin hoarding, with the number of people hoarding Bitcoin increasing by about 4 million over the past year. According to IntoTheBlock, as of August 9, a total of 20.47 million addresses held 11.51 million Bitcoins over the past year.

Further bullish for Bitcoin, Bitcoin is starting to flow to exchanges. The amount has been falling since May.

"Bitcoin mining companies are the biggest whales in the market," trader Cole
Garner noted. "When miners send Bitcoin to exchanges, they want to sell. This is a leading indicator of a local top."

In addition, the upward trend in Bitcoin prices has made mining companies profitable, and the cost of producing Bitcoin is currently around $7,250. Mining companies' revenue actually increased by 7% last month due to higher network fees and increased transaction volume. Average daily fees rose 300% from the end of last month.

Chart provided by analyst Charles Edwards

Meanwhile, mining machine manufacturer Canaan surged 34% in July, while Riot Blockchain rose 10%. However, due to an internal struggle for control between the company's co-founders, which may put affected miners in trouble, the largest miner manufacturer Bitmain delayed shipments by three months, postponing June and July orders to September and October.