Bitcoin Price has Risen Back Above $600 USD

30 May
2014

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It seems that the latest positive news such as DISH planning to add Bitcoin payments and the lack of trouble in China lately has allowed the Bitcoin price to start going high again and it has just broke the $600 USD price per Bitcoin. This hasn’t happened since March and the price of Bitcoin is getting close to double the recent bottom that it hit in April when it was down to a about $340 USD. Hopefully this time the Bitcoin exchange rate will remain high and more stable and not be caused to drop down due to some new commotion happening somewhere in the world.

What we are not seeing however is the growth of the exchange rate of Litecoin and with all of the Scrypt ASIC miners getting introduced and shipped to the market at the current exchange rate things do not look so bright for people that have purchased ASICs. In an effort to get the rest of the payment from people that have pre-ordered Scrypt ASICs from Alpha Technology they had to rise the advertised hashrate multiple times to get back the interest from the people. Otherwise a lot of people were considering to cancel their pre-orders, and even now with the new hashrates announced people that have pre-ordered Vipers are still carefully considering. It is easier with Scrypt ASIC miners that are already available as you know you are going to have them in a few days, so the calculations are easier to make.

With the recent spike in interest and price of DarkCoin and generally X11 crypto currencies, already most of the GPU miners have moved to mining X11 crypto coins. In fact lately many of the new coin launches are based on the X11 algorithm and people are already developing more interest in still the not so many X13 crypto algorithm coins as well. So GPU mining is not going to disappear anytime soon as miners just find other alternatives when ASIC miners start hitting the market and start making GPU mining unprofitable.



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