This year’s maximum of Bitcoin value happened on 26 June, when the price for
1 Bitcoin reached 13,868 dollars. Compared to same date last year, this meant
a rise of almost 250 %. Since the peak in June markets show slow decrease of the
value. At the beginning of the week, the Bitcoin was traded at around 11,400
dollars. This means a drop of approximately 20 percent.
Rising Bitcoin price has certainly made many faces happy, especially those of
miners, that balanced on the edge of profitability during 2018 due to low Bitcoin
price. This too was valid for the big miners with long-lasting contracts on cheap
electricity delivery which is the key component for their profits. Mining of
Bitcoin and some other cryptocurrencies is extremely needy in terms of
electricity.
After June’s price rise, the miners’ activity has risen sharply as well and it
currently shows highest numbers in history. In connection with price increase,
miners’ activity is influenced also by planned halving of mining reward. This
would mean a new limitation of new Bitcoin mining and thus lower availability.
Due to lower availability and higher demand we can expect higher prices
fluctuation. Miners and Bitcoin owners are hoping for major move upwards.
