RATE Group | Bitcoin Price Hits $9K as Data Shows Miner Revenues Fell 47% in 1 Day
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Bitcoin Price Hits $9K as Data Shows Miner Revenues Fell 47% in 1 Day

13 May Bitcoin Price Hits $9K as Data Shows Miner Revenues Fell 47% in 1 Day

Posted at 12:16h in Bitcoin News by

Bitcoin (BTC) returned to $9,000 on May 13 as new data revealed just how much money miners are losing after the third halving.

Cryptocurrency market daily overview

Cryptocurrency market daily overview. Source: Coin360

BTC price stable despite big halving changes

Data from Cointelegraph Markets and CoinMarketCap tracked BTC/USD as it rose to just take the $9,000 level once again on Wednesday after a two-day absence.

Support above the $8,000 range has yet to appear following the halving, itself preceded by a flash drop in the Bitcoin price which momentarily hit the 200-day moving average around $8,200.

Bitcoin 1-day chart

Bitcoin 1-day chart. Source: CoinMarketCap

“Volatility draining down on $BTC, which suits altcoins as some are showing strength,” Cointelegraph analyst Michaël van de Poppe summarized.

The road to fee-driven financial security

Meanwhile, the impact of the event on miners became clearer as data confirmed that on May 12, revenue dropped by around 47%.

From $17.16 million of block subsidies and transaction fees the day…

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