Bitcoin miner capitulation due to end amid 1st difficulty increase since June
It may be as soon as August that miners start returning, and difficulty is already planning an uptick. Bitcoin (BTC) miners have been capitulating for almost two months, but an end to the squeeze could already be here.That was the conclusion from Blockchain infrastructure and cryptocurrency mining firm Blockware as it published its latest Intelligence Newsletter on July 29.Report: “Expect” capitulation to be done by SeptemberThe most recent edition of the market research series highlighted changes in the mining ecosystem apt to switch up a trend in place since early June.Miners, judging by....
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Miners go from sellers to hodlers again as the worst of June's capitulation phase seems to pass. Bitcoin (BTC) miners now own more BTC than at any time in history as the impact of the past months' turbulence wears off.According to data from on-chain analytics firm CryptoQuant, miners' BTC holdings increased dramatically in July.Miners keep stacking satsIn the latest sign of miners recovering from recent price weakness, the amount of BTC in their wallets has hit a fresh all-time high.As noted by CryptoQuant contributor and analyst Jan Wuestenfeld, their combined balance totaled 1,865,272....
Bitcoin mining difficulty has posted another negative adjustment on Sunday, with the difficulty rate almost halving since mid-May. Amid the ongoing crackdown on cryptocurrency mining in China, mining new Bitcoin (BTC) continues getting easier as BTC has experienced another mining difficulty drop.On July 18, the Bitcoin network posted its fourth consecutive negative adjustment of mining difficulty, dropping 4.8%, according to data from Bitcoin explorer BTC.com.The latest mining difficulty adjustment occurred at block 691,488, reducing the difficulty rate from 14.4 trillion to 13.7 trillion,....
Bitcoin block difficulty has jumped yet again. This time, we're looking at a 26% increase to 1,789,546,951, according to this chart at Bitcoin Wisdom. What is bitcoin mining difficulty? In simple terms, it's how difficult it is for a miner to discover a block. By design, the bitcoin protocol calls for an increase in bitcoin difficulty every 2016 blocks. As more and more powerful bitcoin miners come online, it is necessary to slow the rate at which new bitcoin is mined to prevent all 21 million units from being discovered prematurely. If you take a look at the chart above, you'll see the....
On-chain data shows the Bitcoin mining difficulty’s latest negative adjustment means the metric has now seen three consecutive downspikes for the first time in more than a year. Bitcoin Mining Difficulty Suffers Third Straight Negative Adjustment As pointed out by an analyst in a CryptoQuant post, miner capitulation has meant that the hashrate has gone […]
Mining difficulty passed 20 trillion Saturday morning.