Bitcoin (BTC) Mining Becomes More Profitable as Bitcoin Price Breaks Over The $8k Level

It is clear and obvious that the next major crypto bull run is already here. The prices of digital currencies have been on a continuous increase since last week. Digital currencies are breaking several hurdle points and testing new yearly highs. The sharp, massive price rally of Bitcoin (BTC) is one of the most interesting so far. The price of Bitcoin (BTC) has increased by more than 50 percent over the past week. No one expected this sudden crypto bull and BTC has already broken over the short-term Bitcoin price prediction. It is difficult to pinpoint the bullish Bitcoin news that led to this massive surge in price. Notwithstanding, the increase in the price of Bitcoin has resulted in the return of more digital asset investors into crypto space.

Bitcoin (BTC) Price Today – BTC / USD

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The latest Bitcoin news today has to do with the significant increase in Bitcoin mining dominance. Bitcoin (BTC) is the most dominant digital currency. The dominant level of Bitcoin (BTC) according to CoinMarketCap is 59.1 percent, at the time of writing. This makes it one of the best cryptocurrency to invest in 2019. The majority of digital asset investors already consider it as one of the best cryptocurrency to invest in 2019 and in the coming years. However, there are still lots of altcoins out there that present great investment opportunities.

The Dominance of Bitcoin Mining Fees – Best Cryptocurrency to Invest In 2019 – Will BTC USD Price Keep Surging Higher?

Over the past day, Bitcoin (BTC) miner collected almost $754,000 according to data from Messari.io. This shows that the mining dominance of Bitcoin (BTC) is more than 90 percent, as the mining fees for the rest of the cryptos in the market is just $76k. The rest of the market shared about 10 percent. Out of that ten percent, Ethereum (ETH) bagged 9.1 percent, with fees of $73,000. The third position was held by Litecoin (LTC) with fees of less than $1,500, and Dash was at the fourth position with fees of less than $235.

As a result of this, from the viewpoint of a miner, Bitcoin is the best cryptocurrency to mine. Another option to consider is Ethereum. There is no need for mining other digital currency in term of mining fees. The most profitable digital currency to mine for them is Bitcoin (BTC), then Ethereum (ETH) can just lay by the side.

Why Miners Still Mine Other Coin – Bitcoin Price Prediction 2019 – BTC Price Forecast – BTC News Today

Fortunately, there are other ways miners get rewarded, not only fees, else, the majority of altcoins in the market won’t have miners. Most digital currencies offer successful miners block rewards, and BTC is also on this list. Over the past day, 150 new Bitcoin blocks were mined, and each of those blocks came with a reward of $12.5 Bitcoins.

Bitcoin halving is fast approaching, and this would reduce mining reward from 12 BTC to 6.25 BTC. This means miners start depending on fees for revenue. If this happens, the fees must be enough in order to attractive to miners. This is the blueprint of Bitcoin, and it shows that the system is in a healthy state.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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