February 20, 2024

Miners did not slow down the pace of production, despite the collapse of the Bitcoin exchange rate

Miners did not slow down the pace of production, despite the collapse of the Bitcoin exchange rate

Network activity shows that miners continue to mine bitcoin with the same zeal even despite a 20% drop in the exchange rate.

According to the Blockchain portal, the hash rate currently remains as high as before the price collapse. Moreover, on November 23 thisthe indicator was 111.5 TX / s and almost reachedits historic high, set on October 22. Although then the hash decreased slightly, but the current value is within the zone of natural fluctuations and is still above the September level.

Miners did not slow down the pace of production, despite the collapse of the Bitcoin exchange rate

Moreover, as of November 10, the bitcoin exchange rate was $ 8800, and the network complexity indicator was at the level of 12.72 trillion, but during the collapse of the 22nd, this figure rose to 12.97 trillion.

Miners did not slow down the pace of production, despite the collapse of the Bitcoin exchange rate

Since both of these indicators reflect currentthe mood of miners, then based on current data, they are not very concerned about the latest events in the market and continue to conduct active mining. Although it is possible that with a further decline the participants will reconsider their position. However, experts note that most entrepreneurs are confident in the long-term success of Bitcoin and expect a significant increase in the rate as it approaches halving.

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