Dollar dip meets hash rate boom: 5 things to watch in Bitcoin this week
Analysts warn that U.S. dollar could return to its 2018 lows as Bitcoin fundamentals steam to new records this week. Bitcoin (BTC) starts the week above $11,000 as fresh gains continue to hold — is $12,000 next or will bears gain control?Cointelegraph takes five factors that could help decide whether this week is bullish or bearish for BTC price action. U.S. election could send dollar back to 2018Bitcoin remains sensitive to macro phenomena as Q4 continues, and the U.S. election run-up could produce noticeable turbulence.The outcome of a Democratic win looks bleak for one macro indicator....
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The Ethereum mining hash rate has reached a new all-time-high (ATH) value after completely recovering from China’s crackdowns. Ethereum Mining Hash Rate Makes New ATH The ETH network hash rate has made a new ATH record as the average daily hash rate reached 715k GH/s on Sunday. As Ethereum currently uses a Proof of Work […]
The Dogecoin hash rate has actually seen good growth in the year 2022. At the end of 2021, it sat around 371 terahashes per second (TH/s) and by May had touched as high as 540 TH/s. There wasn’t much increase from there though until the Ethereum Merge happened back in September. Since then, Dogecoin has benefitted from the migration of ETH miners to other networks and its hash rate has touched a new 7-month high due to this. Dogecoin Hash Rate Balloons Earlier in the week, the Dogecoin hash rate had recorded one of its highest spikes ever. This took place on Tuesday when the mining hash....
As Bitcoin hash rate continues to rise, a new ATH could soon be in sight. Here’s what it might mean for the price based on previous pattern. Bitcoin Hash Rate Continues To Go Up The BTC hash rate has been increasing for the past couple of months after crashing down in June from the all-time-high […]
After the global hash rate of Bitcoin dropped to as low as 84 EH/s in June, the network has since recovered to sit at around 175 EH/s this week. The global hash rate of the Bitcoin network tanked to as low as 84 exahashes per second (EH/s) at the start of June following the Chinese government’s crackdown on the crypto mining sector.According to Blockchain.com, the global hash rate has increased by 108% since June, with the Bitcoin network performing at a rolling seven-day average of 175 EH/s as of Wednesday. The figure is roughly 3% shy of peak levels of 180 EH/s seen at the height of the....
On April 15, a widespread power outage in North China led to a sharp decline in the Bitcoin hash rate. Because major mining farms are located in China, there was a 20% corresponding decline in hash rate. The China Hash Rate Crash Of 2021 As a result of the decline in hash rate, backlog in […]