Mining, News

BTC Hits Record Price High (Again)

November 12, 2021

Editor’s note: As of November 10, 2021, Bitcoin has surpassed yet another price record milestone, reaching $69,000 just 24 hours after it’s $68,530 price point on November 9, 2021. With such swift increases occurring not within days but hours, it can be expected that a new high will soon be reached once again.

Just mere weeks after its record high of $66,900 on October 20, 2021, Bitcoin has soared to a high of $68,530 USD. This pivotal milestone for the first ever digital coin coincided with the anniversary of Bitcoin’s first ever $1 million market capitalization, which took place on November 8, 2010.

The steady growth of the cryptocurrency, paired with a bullish crypto market and investor confidence, is renewing hopes of a $100,000 price mark before the year’s end. According to a major industry guru known for his startlingly accurate predictions, going by the pseudonym of PlanB, Bitcoin is poised to finish November above the $98,000 mark with predictions for end of December to reach as high as $135,000.

And it’s not only industry insiders that are riding this Bitcoin tsunami wave. The same analyst, PlanB, conducted a Twitter poll recently in which 242,000 crypto enthusiasts sounded off on their predictions for Bitcoin before the end of 2021. Approximately 40% of the respondents said that Bitcon will surpass the $100,000 mark before Christmas, and another 30% of respondents noted that Bitcoin will be trading at $288,000 before the end of the year, speaking to the faith in the digital coin that continues to propel it forward.

According to geological mining facility data collected by the University of Cambridge in partnership with global mining pools such as Foundry and ViaBTC, a Wattum partner, the global network hash rate share has dispersed significantly following the June 2021 crackdown on mining in China. The findings demonstrate a share jump to 21% for Kazakhstan, 42% for the United States, and nearly 14% for Russia.

If you were hesitant the last time around, there should be no doubt that Bitcoin breaking yet another record will provide you the confidence you need to start your crypto mining journey. As a trusted partner for a global portfolio of clients, Wattum provides informed service offerings that range from hosting and management to colocation facility buildout and mobile mining containers.

Bitcoin is expected to continue hitting new all-time highs, all before the end of the month. As it continues to grow and extend its reach, there has never in the history of the digital coin been a more ample opportunity to kickstart your mining operations. As the price of Bitcoin mining equipment has been known to correlate with the price of BTC, equipment prices are further predicted to reach between $150 and $180/TH, highlighting this lucrative opportunity to acquire equipment before the price jumps. Get in touch with the Wattum team and get your mining operations started today.

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