CoinLoan Weekly: BTC Mining Difficulty Rise, ETH breaks ATH, 100k Bitcoin ATMs

WeeklyNov 2, 2021
CoinLoan Weekly: BTC Mining Difficulty Rise, ETH breaks ATH, 100k Bitcoin ATMs

Price Dynamics

Bitcoin Price

Last week, the Bitcoin price remained stable around the $60,000 mark. The leading cryptocurrency didn’t overcome its all-time-high, reached on October 20 ($67,276.79). The coin even fell below $60,000 to $58,501 but later recovered.

As of November 1, the Bitcoin price is $61,941.64, a 2.4% positive change in the last 24 hours.

BTC price chart. Source: CoinGecko
BTC price chart. Source: CoinGecko

BTC price remains under the influence of the mining complexity that rose by 7.85% to 21.66 trillion hashes. This is the eighth consecutive surge since the industry ban in China. However, the complexity hasn’t risen above 25.05 trillion hashes, observed at the BTC price peak in May.

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Ethereum Price

The price of Ethereum started the previous week at $4,125 and was lightly fluctuating. However, ETH managed to break its prior all-time highs by reaching $4,467 on October 29. The rally didn’t follow – straight after a new historical Ethereum maximum, the coin’s price reached $4,205 on October 29.

As of November 1, the Ethereum price is $4,345, a 2.9% positive change in the last 24 hours.

ETH price chart. Source: CoinGecko 
ETH price chart. Source: CoinGecko 

Goldman Sachs is expecting dramatic changes in the Ethereum price. According to ZeroHedge, Bernard Rzimelka, managing director of global markets at Goldman Sachs, expressed the view that Ethereum may rise to $8,000 by the end of the year if the historical correlation with inflation expectations persists.

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XRP Price

The price of XRP went sideways for the entire week, starting Monday at $1.09 and rising and falling for the next seven days. The steep drop occurred on October 27, when the price went down to $1.03 after a surge to $1.12. Eventually, it peaked on October 31 ($1.15) and fell to $1.10 by the end of the day.

XRP price chart. Source: CoinGecko 
XRP price chart. Source: CoinGecko 

As of November 1, the XRP price is $1.09, with a 1.8% positive change in 24 hours.

Cryptocurrency News

100k Bitcoin ATMs Are Coming to 50 U.S. States

Bitcoin Latinum has partnered with crypto machine operator OSO ATMs to install 100,000 devices in 50 U.S. states. The first 25,000 crypto ATMs will be fully operable by the end of January 2022.

The number of crypto ATMs in the world is growing. According to Coin ATM Radar, there were 14,016 devices registered worldwide as of January 1, 2021, but the number had already doubled and reached 30,011 by October 27.


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Disclaimer:
The information provided by CoinLoan ("we,” “us” or “our”) in this report is for general informational purposes only. All investment/financial opinions expressed by CoinLoan in this report are from the personal research and open information sources and are intended as educational material. All outlined information is provided in good faith, however we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability or completeness of any information in this report.

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