The data on the series shows that the 7 -day average Bitcoin retail has set a new record, although the network is difficult at the highest level ever.
Bitcoin has noticed a sharp increase recently
“Hashrate” refers to an indicator that tracks the total computing amount of Bitcoin Blockchain. The scale is traditionally measured by retail per second (H/S), but today the most huge exhalationes is used in the second (T/s) instead.
When the value of this scale rises, this means that new miners join the network and/or are older farms. Such a trend means that the series shows an attractive project for these auditors.
On the other hand, the indicator, which records a decline, notes that some miners decided to separate them, and perhaps because they no longer find BTC Mining profitable.
Now, here is a plan from Blockchain.com This indicates a 7 -day average trend for bitcoin retail over the past year:
As visible in the graph above, observed the average medium bitcoin for a period of 7 days recently, indicating that miners have added more computing energy to the network. The index has now reached the value of 942.6 EH/S, which is a new record.
This high came despite the fact that there are factors against mines recently. First, the price has followed a declining path since ATH near $ 112,000. Miners fulfill their income through BTC terms, but their bills in Fiat is like the US dollar, and therefore the value transferred to their revenues is what is related to them.
Of course, the higher the price, as well as their income, which can motivate them to upgrade their facilities. So it is interesting that the bullish trend in the scale has continued even with the low price. However, this is still just average for 7 days, so it remains to see how the trend will develop in the near future. The decrease is likely to be reflected with some delay.
Another factor that went against miners is the increase in the difficulty of mining, which is a built -in scale in Bitcoin Blockchain that controls the difficulty of finding miners on mines on the network at the present time.
The trend in the BTC Difficulty over the last twelve months | Source: Blockchain.com
The difficulty fluctuates automatically every two weeks. These adjustments change the scale in a way to neutralize the change in retail. The advantage is to restrict a mine’s income, which makes it always receive the mass bonus at a fixed pace.
This means that regardless of how much mines add in Bitcoin power, they still win the same amount. If new miners join, this means that the competition has just got the same rewards and if promotions occur, then the profit margins have decreased only (both will only be when the price remains the same, of course).
Looking at this, the nails can be priced in difficulty of mine workers already. The latest modification, which passed on Friday, caused the index to strike the highest new level ever. But so far, it seems that miners have not yet retracted their expansion.
BTC price
Bitcoin has not yet shown any signs of recovery as its price is still trading of about $ 104200.
Looks like the asset's value has declined recently | Source: BTCUSDT on TradingView
Distinctive image from Dall-e, Blockchain.com, Chart from Tradingview.com
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