As bitcoin gains in value and popularity, it is thought that bitcoin mining is on the rise. When Bitcoin had a decline to a low of $ over $1,100 in 2013 it put a lot of individual miners out of business, however, recently Bitcoin has hit the mid-$400s indicating that Bitcoin mining is on the rise again. “When the price goes up, there’s more confidence in mining" said Bobby Lee , CEO of Bloomberg , a bitcoin exchange. However, bitcoin mining comes with its risks as have been proven with its price volatility.
As Bitcoin gains in value and popularity, it is thought that bitcoin mining is on the rise. When Bitcoin had a decline to a low of $183 in 2015 it put a lot of individual miners out of business, however, recently Bitcoin has hit the mid-$400s indicating that bitcoin mining is on the rise again. “When the price goes up, there’s more confidence in mining" said Bobby Lee, CEO of BTCC, a bitcoin exchange. However, bitcoin mining comes with its risks as have been proven with its price volatility.