Bitcoin Price and Ethereum Prediction; Winter Lowers Texas BTC Hash-Rate
On December 27, Bitcoin price prediction stays neutral during the Asian session as BTC is maintaining a narrow range of $16,800 to $17000. Similarly, Ethereum has stayed relatively stable at $1,223. The global crypto market cap gained 0.14% to $813.38 billion in the previous day, as major cryptocurrencies traded in the green early on December 27.
The entire cryptocurrency market volume in the last 24 hours is $22.05 billion, a 0.30 percent fall. DeFi's total volume is currently $1.67 billion, accounting for 7.57 percent of the overall crypto market 24-hour volume.
The overall volume of all stablecoins is now $20.10 billion, accounting for 91.14% of the total 24-hour volume of the crypto market.
On Christmas Eve in Texas, Bitcoin's total hash rate dropped to 170 exahash per second (EH/s), which hurt the world's largest cryptocurrency. Bitcoin miners cut their hash power due to harsh winter weather. By Sunday noon, 100 exahashes disconnected from the network and rejoined at 170 EH/s to 240 EH/s.
According to a Bitcoin.com report, Texas-based bitcoin miners have stopped working due to the cold. Dennis Porter, a Bitcoin enthusiast, shared a text message from a company that engages in mining activities.
He claims that the Fort Stockton location of Lancium, a Bitcoin company, was closed down. It was done to increase the grid's power supply.
According to Bitcoin Magazine, Brazilian President Jair Bolsonaro signed a bill into law that establishes a legal framework for the trade and use of bitcoin in the country. Congress passed the bill with no changes, and President Bolsonaro signed it into law.
The new regulations regard bitcoin currency as both an investment asset and a digital representation of value in South America.
Therefore,
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