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China crypto ban is more bark, less bite: Industry watchers

China crypto ban is more bark, less bite: Industry watchers
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Bitcoin price plunged - drops more than 14% in 24 hours


Since last month, there has been a lot of uncertainty over the price of Bitcoin. The price of this cryptocurrency has been fluctuating and it even dropped to an all-time low ($47,000) at some point. However, since the all-time low drop, there has been a gradual rise in the price of this crypto. Recent reports claim that the price of this crypto-money dropped suddenly, a drop of over 14%.
 
According to Tesla’s CEO, Elon Musk, the company no longer allows the use of Bitcoin for vehicle purchases. According to him, the decision is due to the “rapidly increasing use of fossil fuels for bitcoin mining”. Since this announcement, there has been a drop in the price of Bitcoin. ....

Thomas Heller , Elon Musk , தாமஸ் ஹெல்லர் ,

Bitcoin transaction fees at an all-time high, BTC miners revenue skyrockets


Apr 22, 2021 04:41 GMTCrypto News
A major power outage in China’s Xinjiang province led to the drop in Bitcoin’s hash rate last week.
The massive decline in Bitcoin’s hash rate has benefitted miners but cost users a new high in transaction fees when using the network.
Bitcoin’s mining difficulty is expected to be adjusted in early May, leading to adjusted fees. 
Bitcoin transaction fees have reached an all-time high amid a massive hash rate decline on the network.
Bitcoin hash rate’s effect on transactions
The latest surge in Bitcoin transaction fees come in at a time when the Bitcoin network witnessed a major drop in hash rate. Over the weekend, amid the Bitcoin price plunge, BTC saw the largest daily drop in the network’s hash rate since late 2017. ....

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