Bitcoin (BTC) fluctuates at $ 11,550, surplus Canadian gas for BTC mining

Bitcoin (BTC) fluctuates at $ 11,550, surplus Canadian gas for BTC mining

Bitcoin (BTC) fluctuates at $ 11,550, surplus Canadian gas for BTC mining

Bitcoin (BTC) fluctuated around $ 11,700 today, but is unable to break through the $ 11,800 resistance due to lack of volume. At the time of writing, the rate is at $ 11,559 (0.9%), almost the same as about 24 hours ago.

A number of altcoins do rise, such as Stellar Lumens (XLM) and Binance Coin (BNB), both in dollars and in satoshi value. Also Ripple (XRP) seems to gain some momentum.

Canadian gas for bitcoin mining

This Friday afternoon, Bitcoinist comes up with striking news: Canadian energy companies mine bitcoin by using residual gas. It is gas that is too expensive to sell on the (retail) energy market. That gas is converted into electricity to connect miners. The alternative to the surplus gas is namely to burn it.

This is reported by Francis Pouliot of Bull Bitcoin on Twitter.

Bitcoin (BTC) update

Bitcoin started last Friday with a rate of $ 11,200 and during the week the rate rose to break even by $ 13,000 on Wednesday. That momentum has fallen through a number of support levels in the last two days.

Today the price rose by $ 11,700, but the resistance at $ 11,800 seems too strong for the time being.

Crypto House analyst Elroy Ryon reported this afternoon that bitcoin can go two ways. He emphasizes in his analysis that the support at $ 10,350 is retained for the bulls. At the top there is considerable resistance between $ 12,150 and $ 12,400.


How do analysts on Twitter rate the course in the short term? Crypto Monk sees the $ 10,950 level as an important support for the price. As soon as it breaks, BTC can fall below $ 10,000.

Analyst Josh Rager sees the volume decrease, making it difficult to break through the $ 11,760 barrier. He sets the bar a little higher and finds that a price below $ 11,138 is a bearish signal to the market.


Both pluses and minuses in the top 10. Striking climbers are Binance Coin, Stellar Lumens and Tron. Huobi Token, on the other hand, surrenders more than 20%.

About Viktor Sokolov 163 Articles
Nerd, entrepreneur & coffee aficionado. Believes that blockchain infrastructure and bitcoin will be the money system of the coming decades. Trying to make visible what this means for technology, economy, companies and societies.

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