Long-Term Indicators of Bitcoin: Transactions, Hashrate & More
Most investors and users of bitcoin are looking at the long-term growth of bitcoin as a technology, protocol, network, and a store of value. Not a large population of users are relying on bitcoin to make a fortune out of short-term surges and price trends. In online bitcoin communities and at roundtable discussions, investors often demonstrate their concerns in regards to the performance of bitcoin, sustainability of its value and the long-term health of bitcoin. Some worry that bitcoin could be overtaken by an alternative cryptocurrency (altcoin) in the future. There exists six main....
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There's certainly been a lot of discussion lately with regard to the Ghash.io mining pool. Consistently reaching a high bitcoin network hashrate (exceeding 40 percent), the pool has been viewed by many in the community as a bad player. Why is this a big deal? Because when a pool reaches 51 percent network hashrate, they may have the ability to carry out malevolent attacks. These include excluding transactions, reversing transactions while in control, and more. But now, amid all of the bad press, Ghash.io and sister company Cex.io have released a statement on the matter, and the....
The Bitcoin network hashrate has dropped significantly over the last four days sliding from a high of 161 exahash per second (EH/s) to 90 EH/s on October 27. Today, the Bitcoin hashrate has improved a hair as the network’s security is currently hovering around 100 EH/s. However, the mempool log of unconfirmed transactions has spiked […] The....
As the bitcoin price rally gets into high gear, technical indicators at the long, mid and short term levels suggest that there could be corrections on the horizon, after a continued rise to $820 USD. Let’s take a look at the indicators in the first installment of Bitcoinist.net’s new technical analysis series by Ramiro Burgos. Prices are breaking at every resistance placed by Gann Angles Theory, and also had left back the big triangle accomplishing all the technical objectives. Taking on all the historical prices data, Fibonacci numbers at the 50% zone would be reached at $670, and the....
On-chain data shows the 30-day moving average of the Bitcoin mining hashrate is close to setting a new all-time high. Bitcoin Mining Hashrate (30-Day MA) Has Surged Up Recently As pointed out by an analyst in a CryptoQuant post, the BTC mining hashrate has been moving higher in recent days. The “mining hashrate” is an […]
Bitcoin mining difficulty fell by 1.5% last week, following the full recovery of China’s mining ban last year. China started to crack down on cryptocurrency, prohibiting financial institutions and payment companies from providing services related to cryptocurrency transactions. China accounted for roughly 75% of the “average monthly hashrate share,” a term used to calculate the computational power needed to mine Bitcoin. After Beijing effectively banned the country’s cryptocurrency miners in May, more than half of bitcoin’s hashrate disappeared from the global network.....