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LTC Price Predicted to Keep Rising After Sparking Crypto Spring — Five Positives from Litecoin
LTC Price Predicted to Keep Rising After Sparking Crypto Spring — Five Positives from Litecoin

Bitcoin News - Bitcoin Miners, Rejoice!

  • Thomas Hughes
    📰 News

    Bitmain has announced the release of two 7-nanometer ASICs: Antminer S15 and Antminer T15

Bitcoin Miners, Rejoice!
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Mining giant Bitmain has announced the release of two 7-nanometer ASICs: Antminer S15 and Antminer T15. The machines will be available for purchase on Nov. 8 and will possess “industry-leading hash rates designed to mine with the SHA256 algorithm,” according to a Bitmain Twitter post.

Bitcoin’s performance sits at -0.18% for the last 24 hours (+1.43% for the last seven days), and it’s uncertain how the mining-related announcement will affect the charts. Probably, the network difficulty will increase once the new machines start mining, and maybe we will get a price reaction once the actual hash rates are revealed.

Charts at a Glance

Charts at a Glance

After bouncing lower from the confluence zone mentioned yesterday and seen on the chart, the pair has found resistance at the bearish trend line (a long legged, red candle shows rejection right on the trend line).

Currently, the price is retracing after the initial attempt to break the confluence zone, but a lower low hasn’t been formed in the current mini-uptrend, so the outlook remains mostly neutral but with a slight bullish bias. For the pair to gain some momentum, we would need to see at least a 4H candle close above the bearish trend line (even better if it closes above 6,465 resistance).

Support zone: Bullish trend line

Resistance zone: Bearish trend line, followed by 6,465 horizontal level

Most likely scenario: Break of immediate resistance

Alternative scenario: Move into diagonal support (trend line)

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Bitcoin News - Bitcoin Mining Revenues Drop to 19-Month Low, but There Is a Silver Lining

  • Alex Morris

    👷🏻‍♂️🖥️✊After raking up almost $1 bln in mining revenues back in January 2018, miners have to deal with much smaller numbers

Bitcoin Mining Revenues Drop to 19-Month Low, but There Is a Silver Lining
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Contents

The total mining revenue fell to a 19-month low back in February, a recently published Diar report shows. However, the silver lining is that gross margins (the difference between revenue and the cost of equipment) increased to 39 percent in February.

👉MUST READ Top Cryptocurrencies by Mining Revenue in 2019: Bitcoin (BTC), Ethereum (ETH), Zcash (ZEC), Litecoin (LTC), and Bitcoin Cash (BCH)

A steep decline

Bitcoin miners earned slightly more than $190 mln this February, which is a world of difference compared to the $516.6 mln they raked in last year. This January, miners managed to make $210 mln (compared to an eye-popping $951 mln in 2018).   

Firing up the latest ASICs

The aforementioned report also shows that the flagship Bitmain Antminer S15 generates more return than the previous-generation Antminer S9. The Bitcoin network is currently powered by bleeding-edge equipment.   

A spending spree  

As Bitcoin’s 2020 halving is looming, it is clear that only the strongest ASIC will provide the required amount of hashing power. With miner margins shifting back into growth, large mining operations will fork out top dollar to stay above the fray.

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