Tuesday, 25 June 2019

They say the key to prognostication is to sound certain even when you know very little. And few markets are capable of confounding both experts and diehard skeptics like bitcoin and crypto markets do.

After hitting a 2018 low of less than $6,000, leading digital currency bitcoin (BTC-USD) is rebounding. Today, June 2, bitcoin is trading for more than $6,600 -- a major reversal.

A study conducted by PwC reveals that Bitcoin has doubled its energy consumption over the past six months and the significant rise in consumption raises doubts about the long-term viability of the model, leaving the door open for alternative distributed consensus models.

Creamcoin Marketcap