On Sunday, the value of Bitcoin continued to fall, losing 5 to 6 - 6 of its price.
According to CoinMarketCap, since an all-time high of close to $20,000 per bitcoin on Dec 17, 2017, the cryptocurrency has lost over 1/2 its price, presently trading at around $6,568. Overall, Bitcoin’s value is up by about 150percent compared with this same time last year, when it had been trading around $2,800.
Such fluctuations do not appear to have stopped demand for fitting new mining operations, significantly in areas wherever electric power is relatively cheap. Demand is therefore high in one a part of Canada that Hydro-Québec, the province’s energy utility, recently said that it'd "temporarily" stop acceptive energy requests from cryptocurrency mining firms "so that the company will still fulfil its obligations to produce electricity to all of Québec."
The move comes as 3 months ago, utilities in neighboring New York state proclaimed they might be raising rates for mining firms.