Bitcoin: Miner Indicator Reveals Buying Opportunity
The recent dip in Bitcoin's price, which saw it fall below $60,000 after a 0.5% drop over the last 24 hours and an overall weekly loss of around 3%, has caught the attention of analysts at CryptoQuant. They suggest that this decline might present a buying opportunity for BTC based on historical data indicating that low hash prices often coincide with Bitcoin price bottoms.
This observation is supported by past trends where periods of low profitability for miners have frequently signaled market lows for Bitcoin. The current situation could thus mark another such local bottom, making it an opportune moment to invest in the world's most valuable cryptocurrency, according to Business Insider Deutschland (businessinsider.de/krypto/bitcoin-miner-indikator-offenbart-kaufchance).
Solo Miner Hits Jackpot: Earns $200,000 in Bitcoin with Just 0.012% Hashrate
A solo miner recently achieved remarkable success by independently validating a block and earning approximately $200,000 worth of Bitcoin as a reward. On August 29th, Con Kolivas from ckpool announced via X that this miner solved block number 858978 using only about 0.012% of the average network hashrate.
This achievement highlights how even small-scale miners can occasionally hit big rewards despite their limited resources compared to larger mining operations. This event underscores the potential opportunities within solo mining pools like CKPool, as reported by Cointelegraph Deutschland (de.cointelegraph.com/news/crypto-news-solo-miner-earns-200-000-us-dollars).
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