Bitcoin and Ethereum: new heights

BTC and ETH showed new price heights on the background of upcoming big events
13 October 2017   2822

Bitcoin price

Today, October 13, the rate of the Bitcoin confidently surpassed the level of $ 5500 and fixed a historic high at the mark of $ 5920 (Bitfinex exchange):

Bitfinex
Bitfinex Bitcoin Chart

On the hourly chart, a correction of the price with consolidation around $ 5550 is clearly visible.

As for other popular stock exchanges, such as Poloniex and Bitstamp, then on these trading floors the price did not reach such high values. The maximum bitcoin was slightly lower, near $ 5,800.

Thus, the price set the resistance level at $ 5800-5900. A strong support level is in the region of $ 4800-5200.

The current rise in the price of the first crypto currency is largely due to the approaching probable hardfoot Segwit2x. It is possible that investors are buying bitcoin in the hope of obtaining an equivalent amount of "alternative bitcoin," as it was in August this year.

Another important factor in price growth is the gradual growth of SegWit-transactions in the bitcoin network:

SegWit Charts
SegWit Charts

The graph shows that the share of SegWit-transactions in the bitcoin network already exceeds 10%.

According to the Coinmarketcap service, the current value of bitcoin capitalization is $ 95B. The aggregate capitalization of the crypto-currency market is $ 169.8 billion.

Ethereum price

Etherum gained more than 6% in last 24 hours, showing the rapid price rise. 

Ethereum Charts
Ethereum Charts

At the moment, average Ethereum price is $325.48 with historic maximum at $386.83 (was reached at Aug 31 2017). Market cap is more than $30B and 24h trading volume is almost $1B. 

Main reason of Ethereum price rise can be upcoming hardfork called Byzantium. At the moment, Byzantium launch is planned on the October 16, 2017. 

Argo to Report on Mining Profitability Increase in Q2

It was also reported that by the end of June, company owns about £ 3 million in crypto assets, which is 7.7% higher than expected
03 July 2019   225

The British mining company Argo Blockchain published a financial report for the second quarter of 2019, according to which its revenues increased significantly in the second quarter, exceeding its own expectations.

So, in comparison with the previous report, published in early June, the income from mining Argo Blockchain increased by 24%. The increase in profitability from mining at the same time turned out to be proportional to the increase in the Bitcoin price observed during the recent period.

The Company now expects to generate 161 BTC, or GBP1.38m of cryptoassets, in June based on a BTC price of $10,817.16 USD as of 30 June 2019. This is an increase of approximately 101% from the Company's May mining results and represents a mining margin of roughly 81%. The Company considers that this demonstrates that the Company is one of the most efficient miners in the market.
 

Argo Blockchain Team

Argo Blockchain also said that as of the end of June, the company owns about £ 3 million in cryptocurrency assets, which is 7.7% higher than expected.

Also Argo Blockchain intends to expand its activities. In particular, the company plans to deploy another 2500 miners in Quebec by the end of the third quarter, which is also expected to significantly increase revenues.

Our better-than-expected mining performance reflects both improving industry conditions as well as Argo's business strategy, which has enabled it to rapidly ramp up operations and thereby take full advantage of the upturn. As a result, we enter the third quarter with a strong momentum to deliver further growth and improving mining efficiency.
 

Mike Edwards

Executive chairman, Argo

It should be noted Argo Blockchain was the first cryptocurrency company, the placement of shares of which was approved by the London Stock Exchange last June.