The price of Bitcoin (BTC) is still very volatile, and as we witnessed over the weekend we saw the price of BTC wildly swing from as low as $7,600 to a high of $10,070 in as little as 24 hours.
However, this is the cruel nature of trading BTC, where mining BTC on the other hand has had a much silkier ride, especially in more recent years.
We witnessed the bull run of 2017, which was responsible for a number of changes to the crypto space during this time. Before this, very few people had heard of or were educated on Bitcoin. However, within the three months of the bull run crypto assets tripled, the crypto culture was taking off, everyone was talking and a lot of people made a lot of money. The word was getting out.
Then with every great high comes a great low. Bitcoin collapsed 84 percent in a single year, taking the price down to below $4,000. This meant that a number of BTC miners were forced to close own their mining rigs, which resulted in a drop is hash power and difficulty to mine the coins.
Since early 2013, the revenue for BTC miners has rocketed and now totals to an astonishing $16 billion in block rewards.
Elias Simon, Senior Research Analyst commented after looking into the figures from 2013 – current day,
“So far, $BTC miners have been allocated the equivalent of $16B, since early 2013. In the 2014 years pre-ATH, miners made 2.5x less the amount they did in the -2 years after. Looks like the 2017 top was a real inflexion point.”
Even with the price of BTC falling during 2018, the cumulative mining revenue continued to climb during this time. Even during the crypto winter in 2018, hash rates continued to stay strong, this indicates that very few miners actually shut down their rigs during the winter, staying confident that the price would come back to a much healthier figure, which they did.
Currently BTC is trading over 190 percent higher than it was during the 2018 low.
How to get involved in crypto mining
NGS Crypto is Australia’s leading crypto mining investment service offering a unique investment model to anyone interested in entering the crypto mining space.
NGS offers great perks for their members, including 24/7 access to funds for withdrawals or deposits, and 100 percent of the members initial investment amount is returned back to the member at the end of the 36-month legally binding agreement.
Their mining system is world class and offers an investment like we have never seen before, with members earning upwards of 12 percent per annum on their investment.
To get involved, or to learn more about this safe and stable investment, contact their friendly team today.