Short Calls Fail to Shake Bitcoin Miners Who Push Difficulty to New All-Time High
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Source: twitter.com As such, in spite of Bitcoin’s failure to close above $11k, miners appear unfazed by either near term price action or talk of a second wave. (Source: BTCUSDT on tradingview.com) Bitcoin Mining Difficulty Increase Suggests Bullish Sentiment Although May’s halving seems like a long time ago, the immediate effect of it saw mining difficulty drop as scores of miners were unable to sustain profitable operations.
With yesterday’s jump in mining difficulty, more miners than ever before are working to secure the Bitcoin network. What’s more, historical data shows there is a degree of positive correlation between Bitcoin mining difficulty/hash rate and the BTC price.
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