Read U.TODAY
google news
Recent market data shows that dramatic changes are occurring in the Bitcoin (BTC) network related to mining difficulty. This change reduced the mining difficulty and reduced the hashrate by over 5.6% to 83,148,355,189,239 (83.15 trillion). around According to data from BTC.com, this Bitcoin mining difficulty adjustment was made with a block height of 842,688 and an average hashrate of 646.96 EH/s.
The Bitcoin network difficulty is a measure of how difficult it is for miners to verify transactions and add them to blocks for rewards. The network difficulty level is calculated every two weeks and this metric increases as more computers connect to mine more Bitcoins. The opposite trend occurs when fewer entities are connected to the network.
The average network hash rate over the next seven days was 572.18 EH/s, the biggest drop since at least December 2022, according to the data. If this decline continues, it means that miners can get additional resources for the same resources. Profitable output.
Earnings reporting by crypto mining companies is underway, but so far, favorable mining difficulty is reflected in first-quarter revenue growth.
The Bitcoin ecosystem has received intense attention, with the price of the underlying asset dropping $61,135.59 (2.29%) in 24 hours.Since then, the coin has continued to slide recorded The all-time high (ATH) is $73,750.07. However, long-term traders are confident in the asset's ability to remain resilient and may be planning for a rebound soon.
For now, the bullish sentiment hinges on the views of CryptoQuant CEO Ki Young Ju, who said the network is possible. support More than three times the current valuation. For Bitcoin, this means a high of $256,000.Morgan Stanley and Susquehanna reportedly With the Spot Bitcoin ETF, the optics and possibilities are particularly well aligned.
About the author
godfrey benjamin
