Join the Trading Community: Learn & Earn from Bingbon.
Today’s Cryptocurrency Headline
So far this year, Bitcoin mining has consumed about 62TWh of electricity and generated 33 million tons of carbon dioxide emissions, but only about 0.04% of global energy consumption and 0.1% of global carbon emissions, according to a Bitcoin research report published by digital investment group NYDIG. The report also predicts that even as Bitcoin’s market value reaches $10 trillion by 2030, mining will still account for only about 0.9 percent of energy consumption and 0.4 percent of carbon emissions.
Bingbon’s Bitcoin Chart
Despite experiencing a serious sell-off over the last few days, long-term holders seem to be firm and continue to HODL. According to Glassnode’s on-chain data, this cohort continues to accumulate. Bitcoin is currently on a rebound.
BTC’s first resistance remains around $45,300. If Bitcoin price breaks through this level again, it could re-establish an upward path. The daily chart shows Bitcoin testing near $40,000 for the third time in a row. Bears are still unable to push BTC below this level, indicating that this position has become a stage bottom. However, both bears and bulls will not easily give in.