ICYMI: demand for Bitcoin remains high despite the unpleasant market conditions BTC $BTC BTCmining
How hashrate reflects market conditions
In addition to reflecting a demand for a cryptocurrency, hashrate can give traders and investors a hint about the conditions of the market, if it is in accumulation or in distribution. During the summer bullrun in 2021, the market saw the biggest drop in the hashrate in history after a Chinese crackdown on the digital assets industry, which has also affected mining.
On April 14, Bitcoin mining difficulty dropped by 1.26% to 28.23T, after rising 4.13% last time. The current hashrate of the entire network is 202 EH/s.
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