How Bitcoin effect on other cryptocurrency market and people incomes

Bitcoin-rate-2018

Revenue from mining cryptocurrency: Cryptocurrency mining is the most important way to earn income this year which is no longer profitable

In late 2018, Bitcoin rates reached $4,000. That’s while the value of Bitcoin hit $3,800 yesterday

As shown in the image below the value of Bitcoin has been fluctuating greatly and has fallen from $20,000 to $4,000. This decline in value has also affected other currencies. The collapse of the bitcoin value influenced several factors directly

bitcoin-marketcap-behavior-mineycoin

Revenue from mining cryptocurrency: Cryptocurrency mining is the most important way to earn income this year which is no longer profitable. The recent decrease in mining profitability has hit Graphics Processing Unit (GPU) producers and this factor has led to significant decreases in revenue generation from mining.

Mining cryptocurrency like Bitcoin, Trade cryptocurrency like Bitcoin and Finance on initial coin offering are main ways to make money in 2018 but now many crypto traders try to sell their Bitcoin and buying another cryptocurrency like Ethereum. Bitcoin fluctuations have a direct effect on other cryptocurrencies.

Among the top cryptocurrencies, some are reporting more notable losses with Bitcoin devaluation in last night and today, with a 5% increase in Bitcoin all other currencies like ETH, XRP, EOS, LTC, XLM, and TRX also increased.

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