Slowly, but progressively. This is how bitcoin has managed to regain some good health since the COVID-19 pandemic also caused a sharp drop in its value.
In recent weeks, its value has been increasing gradually and is now close to $ 12,000, which has caused a singular fact: bitcoin miners can get back to work because that operation is now profitable according to analysts.
Levels that exceed those of a year ago
It may still be a long way from the $ 20,000 reached in December 2017, but bitcoin is now over $ 11,700 and appears to be not far from breaking the $ 12,000 per bitcoin barrier.
Bitcoin mining is once again profitable. pic.twitter.com/FTAinTKzcP
— Charles Edwards (@caprioleio) August 10, 2020
This is, in fact, the highest value of bitcoin in a whole year, and although its progression is not as spectacular as some expected, the truth is that in recent weeks and months the growth of the value has been sustained and not as sudden as in other occasions.
The current value of bitcoin even allows bitcoin mining to become profitable again. The latest drops and the famous ‘bitcoin halving’ of last May made it more compromised to get performance out of these operations, but now even with these obstacles, it seems that bitcoin mining could be reactivated if everything follows this trend.