Bitcoin prices edged higher in Asian trading on Wednesday

    Bitcoin prices rose slightly in the Asian session on Wednesday (December 23), and stabilized slightly after rising and falling yesterday.

The quotes released by BITSTAMP showed that Bitcoin/US dollar (XBT/USD) rose to nearly 444 yesterday and then fell back to below 434. It rebounded moderately to above 438 in the Asian session of this trading day.

(Bitcoin/US dollar time-sharing chart Source: Bloomberg, FX168 Financial Network)

The quotes released by KRAKEN showed that Bitcoin/Euro (XBT/EUR) rose to 404 yesterday and then fell back to 396. It rebounded slightly to above 398 in the Asian session of this trading day.

(Bitcoin/Euro time-sharing chart Source: Bloomberg, FX168 Financial Network)

The quotes released by Huobi.com showed that Bitcoin/CNY soared to 2945 yesterday and then fell back to around 2880. It rebounded moderately to the 2920 level in the Asian session of this trading day.

(Bitcoin/RMB 30-minute chart Source: Huobi.com)

In terms of industry, foreign media reported that Bitcoin trading has become active again this year. As the price rises, the difficulty of Bitcoin mining is also rising rapidly.

According to the system design, the difficulty of Bitcoin mining will be adjusted according to the time required for the mined Bitcoin blocks. Data shows that the difficulty of Bitcoin mining has increased by 41.9% in the past month.

The reason is that as the hash rate of mining machines improves, the time to mine a block is reduced. BitFury, a Bitcoin mining chip manufacturer, invested $100 million to build a 100MW mining data center. Currently, the hash rate of BitFury alone accounts for 28% of the entire network.

At 13:03 Beijing time on December 23, Bitcoin/USD was 438.42, Bitcoin/Euro was 398.98, and Bitcoin/RMB was 2918.60.