Bitcoin falls: what's the reason?

Average Bitcoin price reached $6800 mark; let's figure out, what's the background
10 November 2017   1819

Bitcoin Price

On 10th of November, at 9:24 UTC price of first cryptocurrency started to fall.

Bitcoin price chart
Bitcoin price chart

At the moment of press, Bitcoin is being traded for even less than $6800 at some exchanges, for example, Bitfinex, Kraken and HitBTC

Bitcoin price at different exchanges
Bitcoin price at different exchanges

Main market parameters of Bitcoin at the moment of press are:

  • Average price $6817.56 
  • Market cap $113,675,484,123 
  • 24h volume $3,855,700,000

Possible reasons

One of the possible reasons for such a rapid fall in the price of the first cryptocurrency may be that after the announcement of the developers of SegWit2x cancellation the "disappointed" part of traders transfer assets to other crypto currency or fiat money.

As for SegWit2x, although it is officially frozen, a number of recent events indicate that certain something is taking place behind the scenes, the consequences of which are likely to become known soon enough.

For example, almost unknown Bitcoin mining pool bitPico said that they will still try to implement hardfork. They also say that they have control over 30% of Bitcoin network hashrate. Still no solid proof on this statements.

Also a mysterious website bitcoin2x. org was discovered. It differs little from bitcoin.org. On its main page there is SegWit2x related statement. Also, the site's creators say that they will not allow six people to decide the fate of the bitcoin, and the previously assigned date of the hard-fork (November 15) remains in force.

We have decided to continue with the fork as planned. We will not allow the destiny of Bitcoin to be controlled by 6 individuals.

Same date - November 15th.

Bitcoin2x is a secure payment network with cheaper and faster transactions
 

Bitcoin2x Team Statement

Who is behind this resource, is still unknown, also draws attention that the link to Developer Documentation leads to a non-existent page.

This price fall looks interesting on the background of Bitcoin Cash price jump

Ebang to Unveil New BTC Mining Devices

As reported, 10-nm process technology based Ebang E11 miners can reach 44 TH/s performance
25 September 2018   118

The Chinese manufacturer of mining equipment Ebang Communication revealed details about the new line of E11 devices, CCN reports.

At World Digital Mining in Tbilisi, the company introduced three new devices. Based on the 10-nm process technology Ebang E11 miners can reach 44 TH / s. According to the information on the company's website, new miners will go on sale in the near future.

Ebang Mining Devices
Ebang Mining Devices

On the advertising pic there are new devices: E11 (30TH / s), E11 + (37TH / s) and the most powerful E11 ++ (44TH / s)

Main competitor of Ebang - Bitmain - had introduced a high-performance chip BM1391 last week based on 7nm process technology. It is noteworthy that the device E11 ++ from Ebang in its effectiveness exceeds the flagship chip from Bitmain only 2J / TH.

The first information about the new line of miners from Ebang appeared in August.