Will miners’ confidence in Bitcoin finally pay off?
Bitcoin’s hashrate registered an unusual uptick last week, which was accompanied by a price uptrend. Now, indicators remain bullish, suggesting that the trend will continue....
- Bitcoin's hashrate saw a significant spike, reaching over 500 Eh/s from 400 Eh/s in just one day, indicating an influx of new miners into the industry.
- Despite the increase in hashrate, the mining difficulty chart remained flat.
- Miners' interest in Bitcoin is growing, possibly due to expectations of higher profit margins.
- Miners' revenue started to gain upward momentum since the beginning of the month, coinciding with the surge in hashrate.
- Miners' faith in BTC is showing positive signs, with the Miners' Position Index and Puell multiple remaining in a neutral state.
- BTC's price chart turned green, crossing $26,000 and even touching $27,000 briefly.
- BTC's 24-hour trading volume also surged by nearly 100% in the last 24 hours.
The article highlights positive developments in Bitcoin's mining industry, such as the increase in hashrate, miners' revenue, and BTC's price. The sentiment is generally optimistic.