{"id":137671,"date":"2023-09-02T05:18:54","date_gmt":"2023-09-01T23:48:54","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=137671"},"modified":"2023-09-02T05:18:54","modified_gmt":"2023-09-01T23:48:54","slug":"bitcoin-miners-breathe-easier-as-hash-rate-nears-record-highs-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-miners-breathe-easier-as-hash-rate-nears-record-highs-crypto-news\/","title":{"rendered":"Bitcoin miners breathe easier as hash rate nears record highs – Crypto News"},"content":{"rendered":"

<\/p>\n

Quick Take<\/h2>\n

The analysis of Bitcoin\u2019s hash rate through the lens of hash ribbons highlights a significant shift in the crypto-mining landscape. These ribbons, a market indicator designed to predict Bitcoin\u2019s bottom when mining becomes too costly compared to the rewards, suggest that the worst phase of miner capitulation has subsided. A key signal to this trend is the 30-day moving average (MA) of the hash rate crossing above the 60-day MA, a transition marked by the shift from light red to dark red areas.<\/p>\n

Current difficulty levels align with this analysis, forecasting an increase of approximately 5 to 7% in Bitcoin\u2019s value, according to Newhedge<\/a>. However, this projection is not yet set in stone \u2013 there is still a week remaining for this difficult epoch to adjust. The rising hash rate, now nearing an all-time high at approximately 383 terahashes per second (Th\/s), offers a promising prospect for miners. This trend alleviates the previous burden on miners, indicating a healthier ecosystem for Bitcoin mining operations.<\/p>\n

Hash Rate: (Source: Glassnode)<\/figcaption><\/figure>\n
\"Hash
Hash Ribbon: (Source: Glassnode)<\/figcaption><\/figure>\n

The post Bitcoin miners breathe easier as hash rate nears record highs<\/a> appeared first on CryptoSlate<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Quick Take The analysis of Bitcoin\u2019s hash rate through the lens of hash ribbons highlights a significant shift in the crypto-mining landscape. These ribbons, a market indicator designed to predict Bitcoin\u2019s bottom when mining becomes too costly compared to the rewards, suggest that the worst phase of miner capitulation has subsided. A key signal to […]<\/p>\n","protected":false},"author":2,"featured_media":137672,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-137671","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/137671","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=137671"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/137671\/revisions"}],"predecessor-version":[{"id":137673,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/137671\/revisions\/137673"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/137672"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=137671"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=137671"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=137671"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}