Why This BTC Cycle Stands Apart: 5 Reasons
The post Why This BTC Cycle Stands Apart: 5 Reasons appeared on BitcoinEthereumNews.com. The cyclic nature of Bitcoin (BTC) is the subject of much discussion and analysis. The 4-year cycle dictated by the BTC halving event seems to be the dominant narrative in the cryptocurrency sector. Especially since historical price action and investor sentiment have tended to follow a pattern: 2 years of increases, 1 year of decreases, and 1 year of accumulation. However, despite recognizing the importance of rhyming history and the fundamental significance of successive halving, some analysts are trying to highlight the differences. The latest calculation of what makes the current cycle of Bitcoin and other cryptocurrencies different from previous ones was presented on X by @caprioleio. In the article below, we outline the special features of this cycle and events that have never happened before: Hash rate breaks all-time highs (ATH) during bear market Supply in the hands of long-term hodlers (LTH) reaches an all-time high of 76.2% Governments in many countries are mining BTC Lightning Network reaches over $150 million BTC adoption reaches unprecedented levels, and more and more companies accept cryptocurrency payments Bitcoin’s Hash Rate Continuously Breaks ATH During Bear Market The first phenomenon that @caprioleio points out is Bitcoin’s hash rate. This fundamental network indicator estimates the number of hashes per second mined by network miners. The higher the value it represents, the fundamentally stronger and more secure the network is, and the more computing power is involved in mining BTC. According to a chart the analyst published in another post on X, Bitcoin’s hash rate “is currently insane.” Just compare the current values when BTC is struggling at the $30,000 level, with hash rate readings from the all-time high of $69,000 in November 2021. Today, the Bitcoin network has about 3x the hash rate it had when ATH was reached. Bitcoin’s hash rate is 3x…
The post Why This BTC Cycle Stands Apart: 5 Reasons appeared on BitcoinEthereumNews.com.
The cyclic nature of Bitcoin (BTC) is the subject of much discussion and analysis. The 4-year cycle dictated by the BTC halving event seems to be the dominant narrative in the cryptocurrency sector. Especially since historical price action and investor sentiment have tended to follow a pattern: 2 years of increases, 1 year of decreases, and 1 year of accumulation. However, despite recognizing the importance of rhyming history and the fundamental significance of successive halving, some analysts are trying to highlight the differences. The latest calculation of what makes the current cycle of Bitcoin and other cryptocurrencies different from previous ones was presented on X by @caprioleio. In the article below, we outline the special features of this cycle and events that have never happened before: Hash rate breaks all-time highs (ATH) during bear market Supply in the hands of long-term hodlers (LTH) reaches an all-time high of 76.2% Governments in many countries are mining BTC Lightning Network reaches over $150 million BTC adoption reaches unprecedented levels, and more and more companies accept cryptocurrency payments Bitcoin’s Hash Rate Continuously Breaks ATH During Bear Market The first phenomenon that @caprioleio points out is Bitcoin’s hash rate. This fundamental network indicator estimates the number of hashes per second mined by network miners. The higher the value it represents, the fundamentally stronger and more secure the network is, and the more computing power is involved in mining BTC. According to a chart the analyst published in another post on X, Bitcoin’s hash rate “is currently insane.” Just compare the current values when BTC is struggling at the $30,000 level, with hash rate readings from the all-time high of $69,000 in November 2021. Today, the Bitcoin network has about 3x the hash rate it had when ATH was reached. Bitcoin’s hash rate is 3x…
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