The average weekly hash rate for the first time reached 129 TX / since the beginning of the resumption of the growth of BTC and the expectation of an increase in the profitability of mining.
The ongoing struggle of the bulls for the price level of $ 12K without significant pullbacks gives the miners hope for stable development. In anticipation of an increase in profits, they connect new computing power, which increases competition and leads to an increase in the hashrate of the Bitcoin network…
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According to blockchain.com data, the weekly average has been growing steadily in recent weeks and has already exceeded 129,075 TX / s, which is a new record. Current growth is partly driven by miners’ belief in further price increases.
Although the bulls did not manage to overcome the resistance level around $ 12 thousand, but they control the situation and do not allow a rollback below $ 11 thousand.. At the time of publication of the MTC course hovers around $ 11 877.
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Financial instruments that could be traded in 2020 may be disappointed with financial instruments..
text: Ivan Malichenko, photo: Shutterstock, charts: TradingView, Blockchain.com