Fear & Greed: 70

Price: $68,000 or £52,500

Hashrate: 730 EH/s

The hashrate has fallen by around 30 EH/s since yesterday and Bitcoin’s relatively short dip in price may be responsible for it. Bitcoin mining is a competitive, cut throat business and those than cannot get the cheapest energy possible are often bucked from the donkey. But it is worth remembering that hashrate also drives price, so this trend may not continue for long. Once the US election is over and the markets have digested the results, then Bitcoin is bound to explode.

Because it doesn’t matter who is the president.

Bitcoin wins either way.

In other news, Deutsch Telekom has announced that they will be mining bitcoin with their spare energy. This was something I had spoken about with the heads of my current organisation when I gave a presentation on Bitcoin and how it could be utilised within the care sector of the UK. Unfortunately, at that time, I did not know enough about Bitcoin miners and how they operate and I was unable to provide an adequate answer when asked about the nature of the energy grid and Bitcoin’s benefits to the infrastructure. Lesson learned. But Deutsch Telekom’s recent announcement will not go secret for long.

The world is changing at a remarkable pace and people are going to see first hand just how important the Bitcoin network is for building and subsiding energy infrastructure across the world.

HODL.