On-chain data shows the Bitcoin Hash Ribbons have recently gone through a crossover. Here’s what it could mean for the cryptocurrency. Bitcoin Hash Ribbons Suggest Miner Capitulation Is On As explained by CryptoQuant community manager Maartunn in a Quicktake post, miners are capitulating right now if the Hash Ribbons indicator is to be believed. This…
The CEO of analytics firm CryptoQuant has explained how the Bitcoin network fundamentals could support a market cap three times the current size. Bitcoin Hashrate/Market Cap Ratio Could Reveal Ceiling For Cycle In a new post on X, CryptoQuant founder and CEO Ki Young Ju has talked about what the network fundamentals could reveal about…
As analysts continue to debate the future of the flagship cryptocurrency, Bitcoin, the network’s hashrate has seen exponential growth, with this key indicator poised to experience an 100% increase (from the beginning of the year) before the year runs out. How Bitcoin’s Hashrate Has Grown The hashrate, which is used to measure the computational power…
On August 18, a solo miner managed to solve block 803,821, securing a remarkable 6.25 Bitcoin block reward valued at $160,000. This is a very rare event as lone miners have a lower chance of mining a block due to the increase in mining difficulty and this solo miner became the 277th solo miner in…
Prominent Bitcoin mining company Marathon Digital Holdings has published its Bitcoin production and mining operation update for June 2023. In the report released yesterday, Marathon revealed that its Bitcoin production decreased by 21% from May due to weather-related issues in Texas and a decline in transaction fees on the Bitcoin network. “We produced 979 bitcoin…
Bitcoin miners have received a boost in profits after the scheduled difficulty level adjustment resulted in a positive balance. This is the first time since February that the difficulty, which controls the issuance of coins on the network, has decreased. Recent data from Braiins showed that Bitcoin computing power experienced a drop of over 45+ EH/s…
The bitcoin mining hashrate took a sharp nosedive as a historical storm tore through multiple US states. This saw power grids consolidate power to be able to provide enough energy for residents to heat their homes and some mining operations had to wind down to free up more of the electrical. There has been an…
On-chain data shows the Bitcoin Hash Ribbon golden cross has failed to provide an uplift to the price for the first time ever. Bitcoin Hash Ribbons Have Recently Formed A Death Cross As pointed out by an analyst in a CryptoQuant post, the BTC Hash Ribbon model has failed for the first time in the…
Bitcoin miners have been one of the worse-hit following the decline in the price of the digital asset. After what can be said to be a wonderful run towards the end of 2021, the miners have now hit a rough patch where their revenues have been dropping. The previous week would prove to be no…
Bitcoin mining difficulty has been on the rise as the network has gained more popularity. This is a far cry from what was expected after China, which was known as the mining capital of the world at that point, had laid a blanket ban on crypto mining. Bitcoin miners had been able to successfully set…