Bitcoin (BTC) is changing hands at around $11,450 on Monday, mostly unchanged since the beginning of the Asian session, and could be preparing for the next major move either above $11,500 or towards $10,800.
The price of Bitcoin dropped below the $3,800 level on several exchanges on Monday, December 3, while the general pessimistic sentiment on the market reflected in declining Bitcoin’s network difficulty, which earlier today fell by more than 15 percent following the regular adjustment.
Despite the significant decline in Bitcoin prices since the beginning of 2018, the network’s hash rate continues to increase showing a complex nature of economics of cryptocurrency mining.
For the first time in the history of cryptocurrency, the overall hash rate of bitcoin network has exceeded a thousand petahashes per second, thus reaching one quintillion operations, or one exahash, per second. This value might be considered an explicit expression of miners’ position, who apparently continue actively maintaining the network notwithstanding the recent Hearngate […]