Bitcoin Problem Boosts For The 9th Consecutive Time, Hash Price Nears ATH
The mining difficulty of Bitcoin has now reached 22.67 trillion with an increase of 4.69%.
We’ve seen an average change of 9.1% in difficulty over the last three months, which means that the next average jump will be between 1-2%.
The uptrend in the market followed by a strong downtrend is coming to an end. The positive consecutive adjustments in difficulty are evidence that this is nearing its end, giving investors enough time to withdraw their money.
It’s predicted that the next significant high for bitcoin will be at 30 trillion by October 31st, as per BTC.com
Bitcoin is climbing back to its all-time high, reaching 197.6 TH/s in mid-May. The hash rate has seen significant growth ever since the low in early June when it was hovering around 68 Th/s. China’s mining share has also been successfully deployed in the United States this month increasing share.
The transaction count tripled on the Bitcoin network this summer. This is typical for any breakthrough in technology that has had a major impact on business production. People in the Ethereum network see the increase of daily transactions and value that this has brought in recent months. The number of transactions exceeded one million per day for over a year and surpassed one and a half million in May.
However, the hash rate of the second-largest cryptocurrency is at its all-time high after it dropped to its lowest point in June. It is unclear what caused this surge of interest causing others to invest heavily into mining.
The average fees for Ethereum are currently at $4.667 per transaction. Bitcoin’s fees, however, are about half of that at $2.529 per transaction according to Ycharts.