$ 250 million solar BTC mining farm, Peter Schiffs $ 20K target
$ 250 million solar BTC mining farm, Peter Schiffs $ 20K target
Bitcoin Weekend Roundup "/>
- Bitcoin had his worst month since 2011, and BTC critic Peter Schiff quickly pointed out and claimed that the next price target was now $ 20,000.
- In the USA, a company builds a Bitcoin mining project worth $ 250 million, while in the UK the police dissolved an illegal BTC mining company.
May was a month that Bitcoin and the entire crypto community in general want to forget. The top crypto started the month with a new all-time high and acted just under $ 60,000. However, a combination of bad news, over -indebted markets and panic near Neulingen has led to it has lost half of its value. The critics quickly referred to this as the beginning of the crypto winter, but many still believe that the tip is not yet in.
The worst month since 2011
Bitcoin is a volatile asset - that much is clear. The crypto has experienced its fair share of price reductions, some suddenly and others over a few months. Black Thursday is one of the most notorious events, at the bitcoin lost almost half of its value within hours.
May, however, was the month in which Bitcoin lost its highest value in dollars. He started the month with a maximum after reaching a new record of almost $ 65,000 in mid-April. The top crypto was traded over $ 58,400 on May 1st. It had reached 59,000 USD by May 10th.
Elon Musk would start a new cycle in which the industry with its announcement "No more Bitcoin payments" received one blow after the other. BTC has broken down since then and has broken one support level after the other. He lost almost half of his value when he acted just over $ 32,000 a week ago. Since then it has recovered slightly and is $ 36,000 at the time of going to press.
Peter Schiff defines the course target of USD 20,000
While Bitcoin has many fans worldwide, it also attracted its share of critics. One of the best known is Peter Schiff, a world -famous economist who predicted the financial crisis in 2008. In view of Bitcoin's latest price crash, he claimed that gold did better than Bitcoin, although the cryptocurrency is called the new gold.
gold rose by 7.5% in May and closed over $ 1,900. In the meantime, Bitcoin had the worst month since 2011. It could not hold $ 40,000, whereby $ 42,000 acted as strong resistance.
Schiff believes that the level of support of $ 30,000 for the top crypto is back in the game. However, if this level breaks through, the next goal will be at 20,000 USD, a price that was last registered in mid -December.
#bitcoin had its worst month. acted as a strong resistance. The $ 30,000 support is back in the game, and if it fails, $ 20,000 is the next goal. The commemoration day may have an additional meaning in the crypto.
- Peter Schiff (@peterschiff) 28. May 2021
Going Green-250 million US dollar Solar Bit Mining Project
Even if BTC collapses, the community still builds up the infrastructure to support it. One of the most important is a 250 million dollar solar project in Montana, USA that aims at Bitcoin mining. This project comes at a time when the CO2 footprint and the energy consumption of Bitcoin are the subject of violent debates.
Madison River Equity announced the project this week and revealed that it would create 300 MW of renewable energy. It is referred to as the Basic Creek Solar Project and will be the Montana standard one of the largest in the USA Reports, to supply more than 40,000 households with electricity.
However, not everyone is impressed. Anne Hedges, the director of politics in the Montana Environmental Information Center, criticized the project in the following words:
We cannot even get renewable energy in this state for people everyday life - what to the hell do we try to get ahead with renewable energy for cryptocurrency that is only an industry that is supposed to enrich very few people?
While Montana is driving a mega mining project in Great Britain, the police recently brought down an illegal BTC mining center. It is most interesting that the police thought that it would uncover a cannabis farm, but instead they found miners who had stolen "electricity worth thousands of pounds".
Source: Crypto-news-flash.com
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