Rapid Profits: Bitcoin Hashrate Accelerates While Mining Difficulty Touches All-Time High

The Bitcoin network’s hashrate has been operating at very high processing speeds during the last few weeks, as the overall hashrate touched a whopping 171.2 exahash per second (EH/s) on Monday. Moreover, the network’s mining difficulty has also touched an all-time high (ATH) at 20.61 trillion, the highest difficulty the network has ever experienced in the last 12 years. One aspect of the Bitcoin (BTC) network that people look at to measure the protocol’s overall health and growth is the hashrate. At the time of publication, the BTC hashrate is…

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Bitcoin Touches $17K Price Zone, BTC Dominance Levels High, Altcoins Still Way Behind

On November 17, the price of bitcoin touched another 2020 all-time high (ATH) when the crypto asset surpassed the $17k price zone on Tuesday. Bitcoin dominance has risen higher during the last few months and currently hovers at 65% this week. Despite the massive rise in bitcoin value during the last few months, altcoins are not performing as well as they did when bitcoin was at this price range three years ago. Back in 2017, bitcoin (BTC) touched an all-time high (ATH) on December 17, when it reached $19,600 per…

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As Gold Touches New Highs Investors Face Storage Issues, Market Dilution, Threat of Seizures

During the last few weeks, gold has skyrocketed in value over the concerns fueled by the faltering global economy. Despite the fact that gold has always been a safe-haven, many investors are looking to bitcoin because they fear central banks will dilute the market or even confiscate the gold. Prior to Covid-19, central banks purchased massive amounts of gold and alongside this, a number of countries are having serious issues repatriating their gold reserves. This has caused investors worldwide to question gold over crypto assets. There’s no doubt that gold…

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Miner Hoards: Q2 Bitcoin Mining Supply Outflow Touches 12-Month Low

Onchain data shows that bitcoin miners are hoarding despite the 50% loss in revenue that started on May 11, during the third reward halving. The seven-day average of bitcoin miners’ outflow volume and mining funds sent to exchanges remains significantly low. Roughly four weeks ago on June 19, the total amount of BTC transferred out of miners’ addresses saw a significant low not seen in over a decade. At the time, miners transferred 987 BTC that day, but six days later on June 25, miners sent nearly 3,000 bitcoin (2,650…

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Bitcoin Difficulty Touches All-Time High, 120 Exahash of Hashpower Remains Strong

The network difficulty for the Bitcoin network spiked over 9.8% on Monday bringing the difficulty to its highest point ever. The record high of 17.35 trillion makes it much harder for bitcoin miners to profit. However, the overall Bitcoin network hashrate has remained consistently above the 120 exahash per second (EH/s) zone. On July 13, 2020, the Bitcoin (BTC) network saw it’s largest difficulty metric ever, as it touched the 17.35 trillion mark on Monday. Basically, difficulty is the value used to measure how difficult it is to find a…

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Bitcoin Price Touches $10K Amid 2020’s Macroeconomic Storm and Covid-19 Fears

On May 7, 2020, the price of a single bitcoin crossed $10,000 per unit in USD value as the network only has four days until the halving, otherwise known as the “quantitative hardening” by some investors. The cryptocurrency’s per annum inflation rate will drop from 3.6% to 1.8% on or around May 12, 2020, as banks like the Federal Reserve flood the monetary system with stimulus by creating trillions out of thin air. The digital asset BTC has made headlines today, as the price per unit has once again crossed…

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Bitcoin Halving Searches Surge – Phrase Touches Google Trends All-Time High

The notorious bitcoin halving is expected to happen in 20 days either on or around May 12, 2020. The anticipation leading up to the event is at an all-time high, as last week worldwide queries for the phrase “bitcoin halving” using Google peaked with a top score of 100. On Tuesday, Google Trends shows the phrase is still surging holding a score of 90 over 100 during the last 24 hours. The Phrase ‘Bitcoin Halving’ Rises Exponentially on Google Trends Every four years or 210,000 blocks, the network Satoshi Nakamoto…

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