Bitcoin’s hash rate climbed 8,100% since the last halving; will history repeat?BTC $8751 (+0.6%) • ETH $189 (+0.5%) • XRP $0.20 (-0.5%)
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Bitcoin’s intense strength seen throughout the past several days and weeks showed some signs of degrading today. This comes after BTC shed over $20 billion off of its market capitalization during its sharp $2,000 decline seen yesterday evening. The benchmark cryptocurrency is now flashing some signs of immense short-term bearishness, as indicated by a few key technical indicators. The long-term outlook for the cryptocurrency remains incredibly bright, however, and its development from a fundamental perspective in the time since its last halving event in 2016 is clearly elucidated by its hash rate’s parabolic growth.
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Although Bitcoin’s market capitalization is still extremely small compared to that of other assets, like the dollar or Apple, the cryptocurrency is rapidly gaining traction with mainstream investors. What else?📈 Michael Novogratz: We should be valuing Ethereum like Wall Street values Facebook 🔑 Why Paul Tudor Jones’ Bitcoin investment is a “big deal”: crypto fund manager 🐿 Ethereum accumulation trend shows it may be primed for a major upside movement Crypto market dataFor more pertinent market data, please see: Connect with usDisclaimer: None of the content in this newsletter is meant to be financial advice. Please do your own due diligence before taking any action related to content within this article.
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Bitcoin’s hash rate climbed 8,100% since the last halving; will history repeat?