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Environmental harms. Bitcoin mining is an enormously energy-intensive process: the network now consumes more electricity than many countries. This has sparked fears about the cryptocurrency’s contribution to climate change. Cryptocurrency proponents say this problem can be solved using renewable energy; El Salvador’s president has pledged to use volcanic energy to mine bitcoin, for example. Environmental concerns reportedly prompted Ethereum’s move to a proof of stake model, which uses less energy. Why is bitcoin down right now Ethereum (ETH), the world’s leading altcoin, is also down more than 8% over the past 24 hours, bringing ETH’s price under $2,200. This, too, was a threshold that Ethereum spent more than a year and a half trying to breach following the onset of crypto winter in April 2022.
Crypto drop today
Crypto is so new, there isn't enough data yet to decide how much of your portfolio "should" be in cryptocurrency, according to Fracassi. Crypto Contagion DOT token is down by 0.79 per cent and Polygon’s MATIC crypto token has gone down by 3.47 per cent over the last 24 hours.
The crypto sector gives back gains after a sharp rally to start the year.
The rapidly growing interest in Bitcoin ETFs has led to a record-breaking weekly inflow into… Bitcoin as a long-term investment Bitcoin power brokers have been squabbling over the rules that should guide the cryptocurrency's blockchain network.
Why is bitcoin down today
Nvidia's Hotly Anticipated Earnings May 'Trigger' Bitcoin and Crypto Correction, Analyst Says Alts Keep Trading in Red Cryptocurrency drops below $39,000, defying expectations of gains after SEC ruling
