Crypto News – The price of Bitcoin surged beyond $72,000 on Monday, indicating the start of a global bull cycle. Hence, increased spot prices have been quite beneficial to Bitcoin miners.
Increase in Bitcoin Mining Daily Revenue: New Macro Bull Run Pushes Revenues to Over $78 million
Bitcoin miners made an incredible $78.6 million on March 7, exceeding the previous best of $67.1 million, which was set in April 2021, according to market statistics given by CryptoQuant.
Miners are in a good position to profit from the limited bull run because they are essential to the widespread adoption of Bitcoin. The demand vs. supply shock has largely powered the optimistic view since the United States approved the dozen spot Bitcoin ETFs.
Bitcoin Expected to Hit a 6-Digit Price Before the End of This Year
Additionally, for the previous two weeks, top Wall Street financial firms, led by BlackRock Inc. (NYSE: BLK), which manages around $10 trillion in assets, have been accumulating an average of 10,000 Bitcoins every day. With most analysts predicting a six-figure price by the end of this year, the price of Bitcoin is therefore projected to continue rising in the upcoming quarters.
In light of this, Bitcoin miners worldwide are prepared for a lucrative time in the upcoming months as part of the verified crypto super cycle. It is clear that this bull cycle will be very large by all measures because the price of Bitcoin has risen above its previous all-time high (ATH) prior to the impending halving.
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