The hashrate for the Bitcoin network has made a remarkable recovery since it crashed following China’s crypto mining clampdown earlier this year. The Bitcoin hashrate has now topped 150 Exahashes, or one quintillion hashes, per second according to data from analytics provider CryptoQuant. On Aug. 24, the metrics provider reported a hashrate of 152 EH/s which has tripled since it bottomed out this year on June 28 at 52 EH/s. The recovery of the BTC hashrate means that the network is much more secure and harder to attack. The average Bitcoin hashrate — the amount of computing power in the …

A Bitcoin (BTC) mining indicator that has preceded several major BTC price rallies is flashing again. Blockchain analytics platform Glassnode spotted a golden cross between the 30-day and 60-day moving averages of Bitcoin's hash ribbon. In theory, such a crossover indicates that the price momentum is switching from negative to positive. Hash ribbons are based on Bitcoin’s network hash rate behavior and are designed to tell investors when the price is due to experience upside. In simple terms, they show when Bitcoin becomes more expensive to mine relative to the base cost of mining. Miners earn less in U.S. dollar …

Bitcoin’s (BTC) rapid recovery above $46,000 has renewed calls for a $100,000 BTC price by the end of 2021, while the effects of China’s crackdown on the mining industry are slowly beginning to fade as the Bitcoin network hash rate shows signs of recovery. One of the side benefits of China’s crackdown is that it has lowered the barriers of entry into the Bitcoin mining space, which has been shown to provide profits in both bull and bear markets. Bitcoin mining is one of the few ways that investors can acquire BTC without directly purchasing it from the market, and …

The mining difficulty of the Bitcoin network took a dive after China had announced a crackdown on mining operations, which at its peak contributed to three-quarters of the global hash rate. The latest data from BTC.com shows an ongoing spike in Bitcoin’s mining difficulty starting from June 17, 2021. As miners from China slowly settle down in crypto-friendly countries, the Bitcoin ecosystem witnessed a 13.77% increase in mining difficulty in two consecutive jumps, exceeding 15 terahashes (TH) for the first time since the second week of June. The next adjustment is expected to commence on Aug. 27, estimated to surge …

Bitcoin Satoshi’s Vision, the fork of another Bitcoin (BTC) fork, has for the third time in three months suffered a blockchain reorganization (reorg) attack. With a call to all stakeholders to mark the malicious network branch as invalid, Bitcoin SV (BSV) developers say the attacks have been repelled and all fraudulent chains identified. The flurry of attacks against Bitcoin SV, though reportedly repelled, highlight the risks associated with proof-of-work (PoW) blockchains that have a low amount of hash rates backing their existence. Indeed, apart from Bitcoin SV, several chains, like Ethereum Classic (ETC) and Firo — formerly known as Zcoin …

Amid a renewed bullish trend on the cryptocurrency markets over the past few weeks, more users have moved into trading Bitcoin (BTC), the world’s largest cryptocurrency by market capitalization. Data from blockchain analytics platform Glassnode shows that Bitcoin has seen a notable surge in terms of active addresses in the past week of July, with active BTC entities rising 30% from 250,000 to 325,000 active users. According to Glassnode’s seven-day exponential moving average statistics of active Bitcoin entities, this is the biggest surge recorded after the number of active Bitcoin entities dropped 41% from 425,000 in January to below 245,000 …

China’s stringent crypto regulations meant closing shop for many Chinese businesses within the Bitcoin (BTC) mining ecosystem. The sudden disappearance of Bitcoin miners from the grid has resulted in falling hash rates. The hashing performance, the cumulative computing power of the Bitcoin network, dropped from an all-time high of 180 exahashes per second (EH/s) to 84 EH/s in just 21 days. While the hash rate drop was directly attributable to the drop in the number of Chinese miners, Blockchain.com Explorer data suggests there has been a steady increase in mining difficulty since June 3. Since the drop, the hash rate …

Bitcoin (BTC) is nearing $40,000 this Monday as a new week gets underway with a bang for bulls. A calm but confident weekend culminated in a dramatic run-up overnight Sunday, with BTC/USD swiftly nearing the top of its multi-month trading range. With favorable fundamentals and a lot of liquidated bears, Bitcoin looks set to investigate levels not seen in several weeks. What could shape price action as the week continues? Cointelegraph takes a look at five factors to consider when charting BTC price action in the coming days. Bitcoin sets eyes on $40,000 Spot price action is, naturally, the topic …

Decentralized derivatives exchange SynFutures announced a new product called Bitcoin (BTC) Hash Rate Futures that uses the biggest cryptocurrency’s ever-changing mining difficulty as a basis to open long or short positions. Touted as fully decentralized hash rate futures, SynFutures’ new offering would let users trade on Bitcoin mining difficulty with Wrapped BTC (wBTC). The hash rate and mining difficulty are two core mechanics of Bitcoin that have become even more popular with the miners’ exodus following China’s crackdown. The Bitcoin network requires mining difficulty to readjust in every 2,016 blocks to counter the Bitcoin hash rate — the amount of …

China’s ongoing crackdown on Bitcoin (BTC) mining resulted in a mass relocation of mining operations out of the country and it has led to a more than fifty percent drawdown in the Bitcoin network hashrate from an all-time high of 197.9 exahash per second (ehash/s) on April 15 to its current rate at 97 ehash/s. One token that was hit especially hard by the hashrate drop was the Bitcoin Standard Hashrate Token (BTCST), a project that collateralized the Bitcoin hashrate with each token representing 0.1 TH/s of Bitcoin mining power. Data from Cointelegraph Markets Pro and TradingView shows that BTCST …

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, the lowest level recorded since June 2020. The difficulty metrics have now almost halved over the past two months, after reaching over 25 trillion on May 13. The latest Bitcoin mining adjustment follows …

A major cryptocurrency and blockchain association in Russia is launching a project to bring global crypto mining operations to the country amid a Chinese crypto mining crackdown. The Russian Association of Cryptoeconomics, Artificial Intelligence and Blockchain, or RACIB, announced an initiative aimed at transferring global computing resources for crypto mining to the Russian Federation. More information on the project is expected to be released at a later date, a spokesperson for RACIB told Cointelegraph. In order to promote and implement the project, RACIB is closely cooperating with Russian government authorities and state corporations, forming a range of joint working groups …