The price of bitcoin has partially recovered to the level of $46,400. Ethereum reached the level of $3,500, and the price of XRP fell to $1.11. The total capitalization of the digital currency market was $2.09 trillion.
The complexity of bitcoin mining during the next two-week recalculation increased by 4.5%, which was the fourth increase in a row. Despite the increasing complexity, bitcoin mining remains highly profitable due to the recent rise in the price of the cryptocurrency, pool representatives say. The price of cryptocurrency is growing faster than the complexity of its production, even taking into account the recent fall. The profitability of bitcoin mining has increased by more than 80% since the market fell in 2019. In addition, the shutdown of Chinese miners has had a positive impact on the results of those who are in other countries and continue to mine cryptocurrency. Another reason for the slowdown in the growth of complexity is the end of the rainy season in the southern part of China. Since some miners continued to mine cryptocurrency secretly, the rate of hashrate recovery exceeded the expectations of operators of many pools. After the collapse, the situation in the cryptocurrency market is gradually stabilizing, and many coins are already regaining their lost positions. The Solana token is the leader in the top ten in terms of recovery rates. From the highs of about $200, Solana lost 35% of the value, but regained some of the losses. As a result, with a capitalization of $51 billion, it was able to rise to the sixth place in the rating of crypto assets, bypassing XRP, which was hit much harder by the adjustment. According to CoinGecko, the growth of the Solan token over the past 30 days is over 350%. Simultaneously with the increase in value, Solana shows an increase in activity in applications related to decentralized finance and non-interchangeable tokens.
Our forecast assumes a decline in the price of bitcoin to the levels of 46200, 46000 and 45000 dollars. Ethereum will decline to the levels of 3450, 3400 and 3300 dollars, and XRP - to the price values of 1.10, 1.05 and 1 dollar.