Category: Cryptocurrency News

Hash rate plays a vital role in every Proof-of-Work (PoW) blockchain. It measures the computational drive for all transaction verification and block additions to the network. Hence, the Bitcoin hash rate represents the number of people involved in BTC mining. As the number of miners increases, the hash rate will also increase. This results in maintaining the security and stability of the Bitcoin ecosystem. Many investors will consider hash rates before engaging in any project. Before now, the BTC price and hash rate have maintained a direct proportionality relation. This is because there are always more transactions with the buying and selling BTC when the price is up. With such a price surge, there will be more mining activities to mint more tokens to balance the liquidity. Related Reading | Bitcoin Weekly RSI Sets Record For Most Oversold In History, What Comes Next? But the recent outturn of events has proved a deviation between the relationship between BTC price and hash rate. Despite the bearish market trend with BTC going below $25,000, its hash rate has drastically risen. Bitcoin hash rate has reportedly grown to a new all-time high of 231.428 ExaHash per second. The network difficulty of Bitcoin follows similarly with the rise in its hash rate. It has created a formidable stance for BTC in its recent position at 30.283 trillion. Bitcoin Records More Growth In Different Aspects The new growth cuts across several BTC mining pools, including AntPool, Poolin, SlushPool, F2Pool, and ViaBTC. The highest part of the hash rate came from miners denoted as OTHERS. Also, the BTC Lightning Network grew its capacity to 4,000 tokens. This is a network development that inculcates layer-2 (L2) technology. The present increase would facilitate cheaper and faster peer-to-peer (P2P) transactions on the network. Bitcoin is currently staging more substantial traction for sailing through the general crypto price drop. As the bearish market almost blows off most crypto protocols, Bitcoin is gradually thickening its survival instincts. The BTC ecosystem’s components collectively create a more favorable and sustainable core. There is consistency in the growing all-time high for its network capacity, hash rate, and network difficulty. Suggested Reading | Crypto Markets Lose $100 Billion As Bitcoin Drops Below $26K – More Pain Ahead? The network is also getting backing from developers, miners, and traders. So, the Bitcoin network could get the ranking as the most global secured blockchain. Another implication is that the Bitcoin network is still healthy and functioning correctly. By that, there’s the hope of a rebound from the ongoing bearish trend. In a new development, TBD, a block subsidiary, has disclosed plans for building Web5. This new development would be a decentralized web solely for Bitcoin. The concept would emphasize the belief of Jack Dorsey, the founder, on getting more influence in internet evolution from BTC. Featured image from BBC, chart from TradingView.com

https://www.blockchaincenter.net/en/bitcoin-rainbow-chart/ If you subscribe to the theory that Bitcoin (and the greater crypto markets) adhere to a four year cycle, you’re probably familiar with logarithmic regression and diminishing returns. You’ll be interested to know that the Bitcoin Rainbow Chart linked above is flashing the biggest buy signal in its arsenal. Could we go lower? Definitely.…
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As a result, knowing which ones will be lucrative in the long run is difficult for investors. I must single out my favorite cryptocurrency, Ethereum, which is the second-largest cryptocurrency in terms of market capitalization for good reason. In your perspective, what is the most significant advantage of Ethereum? There are several benefits, such as…
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Dubbed to be the “Original Bitcoin,” BSV, or Bitcoin Satoshi Vision skyrockets in the face of a crypto market crash seen in the past 24 hours. BSV is certainly generating a lot of attention from investors as it remains unfazed by the malingering crypto market decline. BSV shoots to 24% or roughly $55.79 on Tuesday; on the other hand, Bitcoin (BTC) has spiraled down by 11% over the past 24 hours but somewhat diminished in value since Sunday. A Bitcoin Cash (BCH) hard fork sired the emergence of the Bitcoin SV blockchains and the BSV token, which is referred to as the advanced version of the “Original Bitcoin.” Similar to Bitcoin – but better as the BSV creators claim. Speed is the ultimate strength of BSV, they say. Bitcoin Satoshi Vision is described to enable incredibly fast and scalable transactions. Suggested Reading | Ethereum Drops Below $950 On Uniswap Overnight – Here’s Why BSV has shot up to 24% or around $55.79, Tuesday. Source: BSC News. BSV – The Original Bitcoin? The Bitcoin SV blockchain and its token continue Satoshi Nakamoto’s vision to keep the transaction fees affordable or low for its users and dreams to revert Bitcoin to its original form. Even BSV’s whitepaper closely resembles Bitcoin’s. Craig Wright, the founder of BSV, claims to be the Bitcoin creator himself but has not been able to substantiate this humongous claim as of today. The BSV creators see how the existing BTC protocol is hugely flawed and unreliable in structure. The BSV proponents believe that improving Bitcoin’s block size can immensely ramp up the chain’s scalability. BSV Soars Amid Crypto Market Decline Launched over four years ago, BSV continues to go sky-high in the wake of the decline in the crypto market. This is said to have been fueled by its listing in Huobi Japan, which will support the token and open more opportunities for BSV in Japan, a wider and increasingly lucrative market. The increased trading interest and support seem to have triggered BSV’s gains. BTC total market cap at $416 billion on the daily chart | Source: TradingView.com BSV is currently the 43rd biggest cryptocurrency in market capitalization, beaming at $1.08 billion. However, although the token is soaring, Bitcoin is still more valuable than BSV. Bitcoin has shaved off over 51%, while BSV has lost around 56%. Suggested Reading | Dogecoin Shed 91% Of Its Value Since 2021 High – A Musk Tweet To Pump DOGE? BSV appears to have been outperforming other digital assets despite the crypto storm, but Bitcoin isn’t the king for nothing – as it firmly holds its throne. Can BSV beat Bitcoin on its own game? Well, there is only one king, after all. Bitcoin may be rattled and shaken, yet it remains unassailable to this day. Featured image from CoinGeek, chart from TradingView.com

Hello everyone, I have seen and read a lot of threads now about recent events. And WOW! This sub just went full 180 degrees on Crypto. I barely see people wanting to HODL, DCA, buy back in etc. All of a sudden every project has flaws, is incomplete and won't make it. All of a…
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I cannot understand the "any selling is weak hands" argument. Why not spend a little more time paying attention to the economy in the short-term, so you can make proactive decisions about your investments? Here's a bit of reality for all you genius apes. The fed meeting is tomorrow and its going to be a…
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During the Bull run of 2020 and 21, I thought I understood crypto. Massive players were entering the market. More mainstream acceptance. So much FOMO. The halvening is in 2024! Bitcoin is inflation proof! I considered dumping everything into crypto. Taking out leverage. But I didn't because this sub would have posts from vets saying…
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