Bitcoin miners rake in $57 million

Bitcoin miners are having a field day as the daily average revenue rises to $57 million.

According to data from Crypto Parrot, a cryptocurrency trading simulator platform, the daily average profits for Bitcoin mining activities stood at $57 million between March 27 and April 26, 2021. Cumulatively, miners have generated a total of $1.7 billion in revenue within the period in question.

Bitcoin’s recent price rally is directly proportional to the revenue of miners. On April 15, a day after Bitcoin set a record price of $64,800, miners generated $81 million in profits. Meanwhile, two days later, when the market corrected and prices plunged by 15%, mining revenue dropped to $45 million.

Comparatively, the mining revenue in the past month highlights the difference between the recent sustained rally and the short-lived Bull Run of late 2017. During the December rally of 2017, mining revenue was around $1.23 billion for the month. The figure represents a 40.21% difference in mining revenue over the two periods.

The Bitcoin network often becomes congested as traders try to cash in on price surges. Particularly, when the digital asset highs a new all-time high or reacts to positive news, the fear of missing out (FOMO) sets in. While some investors may be looking to sell the high, others might be trying to purchase the asset. This generally results in thousands of transactions awaiting confirmations by miners and higher transaction fees.

TIME Magazine to invest in Bitcoin

Bitcoin miners rake in $57 million

Crypto Signals Learning Guides, to help you get started with trading. Grow your Learning knowledge on the capital markets. URL FxPremiere.com was Founded in 2010

Crypto Signals

While CryptoCurrency trading can be incredibly lucrative, you need to utilize the most reliable crypto tools available to you in order to save you spending hours of watching and waiting for possible entry and exit points. This is where Crypto signals can help, they are available for anyone who hasn’t quite got the time to deeply examine the market – allowing you to pre-set the limit-level and stop-levels for your trades. Pre-setting this information removes the limit to profit-making opportunities

CryptoCurrency Signals

Telegram Forex Signals

Get access to over 20 Crypto Signals sources of Daily via Telegram in a VIP Channel –Ethereum (ETH), BitCoin (BTC) Litecoin (LTC), Cardano (ADA), Polkadot (DOT)and many more.. Up to 11 Crypto Signals per day! We Also offer Forex Signals from our Umbrella Company FxPremiere.com

Bitcoin miners rake in $57 million