The daily trading volume went down from 350K to 300K, marking a 14% decrease. This figure is still better than that of last year around the same time, which saw a decrease of 20%. This might suggest that we are seeing a temporary bounce in the price of Bitcoin in the short term. The daily trading volume has been on a slow increase since February 2018 however, it has been dropping steadily in the past two months. The hash rate for Bitcoin has decreased over the past week and it is now at 90EH/s. The bottom of Bitcoin is correlated to the “shutdown price” for most mining rigs. Does this mean that the price of Bitcoin has hit rock bottom? We’ll explore it in this article.
Has Bitcoin Hit Rock Bottom?
Pragati Shrivastava is a cryptocurrency journalist and enthusiast with a keen interest in Blockchain Technology. She is a day trader, an avid reader and traveller. She loves technology and follows advancements in the field of AI and Machine learning closely.