As the Bitcoin (BTC) price is reaching its highest levels since January 2018, Bitcoin mining is getting more profitable due to a number of factors. According to data from Blockchain.com, BTC miner revenue has soared to levels not seen since Bitcoin’s third halving in May 2020, which reduced the miner block reward from 12.5 BTC to 6.25 BTC. Previous bitcoin halvings from 2012 and 2016 did not see price peaks until late the following years with 2017 being the most recent. The report added that there is not enough evidence that the 2012 halving caused the 2013 rally and that the 2016 one was responsible for the 2017 peak which was largely driven by an ICO boom. The first Bitcoin halving happened on Nov 28, 2012, when the mining reward was reduced to 25 bitcoins. At the time of the halving, the price of BTC was approximately $11. Over the next year, Bitcoin would see its price increase to as much as $1,135 on Nov 29, 2013. A dramatic hike of 10,218%. Bitcoin’s previous two halvings (in 2012 and 2016) had a major long-term impact on the price of the digital asset. While prices didn’t immediately shoot up on the day of the halving, they rose ... Binance is currently the world’s largest crypto exchange, with a daily trading volume of over 2 billion US dollars and that although the company has been offering cryptocurrencies trading for just 8 months. Those who compare the financial figures with those of Deutsche Bank see how profitable the crypto trading can be at present. Deutsche Bank The bears think that a further loss in momentum in legacy markets, along with election uncertainty, will suppress Bitcoin. A top trader on Binance thinks that Bitcoin is primed to move higher in the near future. He joins many others in saying that BTC could hit the $20,000 resistance around the end of the year or start of 2021. “Yes, there is a Binance Mining Pool coming soon,” CZ tweeted. “A new addition to our suite of Binance finance products we offer including staking, earning, savings and loans,” the CEO added. The Coinlife report explained that Binance was hiring people to maintain the SHA256 mining rigs and the new pool would be open to the public during the second quarter of 2020.
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