Bitcoin's hash ratio – the total calculation power of the net – continues to rise despite the turnaround in prices since the beginning of 2018.
The recent bull run of Bitcoin's passing year created a new mining influx into the network.
In the last four months, Bitcoin's hash rate has increased by 100 percent, though price declined by 70 percent.
During last year's summit, 13 EH / s in June,
The hash power still online since the end of 2017 is equivalent to 2 million SHA-256 ASIC devices. Each of these devices is about $ 1,800.
Bitkoin's rising hash rate is the most important signal that the long-term orbit of the market remains positive. The constantly growing computing power of the network indicates that miners still depend on Bitcoin, although prices have dropped by 70 percent.
Miners do not give up even if the cost of bitcoin production increases. At the moment, the production cost of a Bitcoin is on the average between 6000-7000 dollars worldwide. As the difficulty of mining increases, this number is expected to reach 9000 by the end of the year. A historical analysis of the bitcoin price versus the cost of mining suggests that the price may increase significantly in the mid-term. Historically Bitcoin's price is usually 2.5 times the cost of mining. Some experts say here that Bitcoin's mining fair market value should be $ 22,500 by the end of the year.
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