Bitcoin Hash Price Hits All-Time Low, What’s Next for BTC Price?

Quick Summary:

As per the on-chain data, the Bitcoin hash price has touched its all-time low as several miners reportedly turned off rigs since they couldn’t cope with the rising costs and dropping rewards.

The Bitcoin miner capitulation following the Bitcoin halving event in April remains the most watched event.

As per QCP Capital, $58,000-$60,000 has proved to be a robust support level for Bitcoin throughout the second quarter.

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Article Details

Author / Journalist: Bhushan Akolkar

Category: Crypto

Markets: India

Topics: Bitcoin Miner Bitcoin price correction BTC Price Correction Bitcoin miner capitulation Bitcoin News 24/7 Cryptocurrency News Bitcoin (BTC) Price Bitcoin Price Drop

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-29 @ 06:33:08 (2 days ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 376 words

Reading Time: 3 minutes read

Sentences: 43 lines

Sentence Length: 9 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 21414401

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About CoinGape

Main Topics: Crypto

Official Website: coingape.com

Update Frequency: 20 posts per day

Year Established: 2017

Headquarters: India

News Last Updated: 8 hours ago

Coverage Areas: India

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