SEC Chief Says He Will Take Action to Regulate Cryptocurrency
A Review of August’s Cryptocurrency Market and Data Analysis

Bitcoin Mining Will Account for No More Than 1% of Carbon Emissions by 2030

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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

Bitcoin price analysis predication Bingbon

Source: TradingView& Bingbon

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.