The Bitcoin network hashrate currently stands at 32 million terahashes per second. The hashrate decreased 35% over the past year, while the USD market value for Bitcoin decreased 82% from it’s previous highs.
A sustained decrease in hashrate which declines less compared to price leads a Bitcoin bull to conclude the existence of a continued strong mining community underpinning the BTC Network.
Long term confidence in the viability of BTC is demonstrated in the network as mining competition has decreased at a much slower rate and miners demonstrate continued confidence in the long term viability of the bitcoin blockchain.
When enduring a deep bear market that we are currently experiencing it’s important to keep a firm focus on long term fundamentals. Continued confidence by the mining community combined with an increase in Bitcoin wallet take-up (even in the midst of a savage decline) provide some comfort for long term Hodlers of BTC.
This blog is not investment advice. It is based entirely on personal opinion, and is not a solicitation or offer of investment advice of any kind. Consult a professional investment advisor before making any investment decisions.
Trading cryptocurrency, currency, equities and ETFs is potentially risky. You should proceed with caution before trading on the site. By using the Panxora website, platforms, and API you represent that you understand the risks associated with trading cryptocurrencies and global markets. Panxora trades global securities, including US stocks. The company does not have a presence in the USA and are not a US Regulated Broker Dealer. We do not accept traders residing in the United States of America.
Panxora provides services that professionalise and elevate the crypto ecosystem. Its offerings are built on the back of the team’s experience in technology, blockchain and traditional finance. Its treasury risk management technology and investment proposition offer much-needed support for token projects looking for professional methods to raise funds and manage capital. It also has a hedge fund which trades the crypto markets using proprietary AI-software open to high net worth, professional and institutional investors. Its cryptocurrency exchange provides liquidity for token projects, and its accounting and payments software for crypto simplifies and automates the tracking and clearing of crypto transactions.
From its offices around the world, Panxora is ensuring that crypto asset holders and token founders have the tools they need to build dynamic, professional and profitable businesses.