Bitcoin Rumors, Price Analysis, Difficulty Drop - December 3
Cryptocurrency market fails to hold its ground and continues to drop to a point where biggest mining farms say they are going bankrupt.According to many sources Bitcoin(BTC) going below 3,700 USD sends the miners in a no-profit zone and this happened twice on Nov 26 to Nov 27 with Bitcoin going around 3,650 USD.
At the moment, Bitcoin is standing above the 4,000 USD line, which is great news for every crypto investor.
Many tend to think the value will increase since the difficulty decrease coming with the next block (-15%) is the second biggest, bitcoin has ever seen. There was another one on 2011/10/31 (-18%) after the price of Bitcoin doubled in a couple of months.
According to Coinmarketcap it’s not only Bitcoin who lost value in the past 24 hours.Allmost all of the top 10 cryptocurrencies experience rough times but are losing value at a lower pace than before.The market is going through rough times for sure with almost 80% of the cryptocurrencies experiencing losses which accumulate somewhere around 125 USD billions.
We will see what the future holds for the cryptocurrency market but, for now, things look stable and some are considering investing into Bitcoin according to various online sources which see BTC as the digital gold.