Bitcoin, the cryptocurrency with the highest market value, experienced its third block reward halving since its birth on May 12, Beijing time. Now that two weeks have passed, Bitpush has compared the changes in some data between the time of the halving and now. The most obvious change is in the hash rate. After the halving, some miners had to shut down due to reduced profits, while others switched to Bitcoin Cash or Bitcoin SV, which led to a sharp drop in Bitcoin's hash rate. Affected by the reduction in hash rate, the speed of Bitcoin's block generation has slowed down significantly for a period of time. This also led to a significant reduction in the difficulty of Bitcoin mining in the most recent mining difficulty adjustment. In terms of price, the price of Bitcoin did not fall as sharply as many people expected. In the first week after the halving, Bitcoin continued to rise, with the momentum to challenge the resistance range above $10,000 again. However, a transfer from an early Bitcoin address last week caused a small panic in the market, and the price of Bitcoin fell to around $9,000 and has been consolidating ever since. Even so, the price of Bitcoin is still higher than the price at the time of halving. Although the price of Bitcoin has been rising steadily, its trading volume has declined significantly. Although investors in the market are optimistic about Bitcoin in the long term, they are still quite cautious at present. In terms of the market value of the crypto market, it has increased compared to when Bitcoin was halved. In the recent decline, Bitcoin's altcoins have shown good resistance to the decline. Bitcoin's market share has dropped from 66% when it was halved to 65% at present. In the crypto derivatives market, the overall trading volume has declined to a certain extent compared to before the halving, and is basically consistent with the spot trading volume. Despite the decrease in trading volume, the amount of open interest in the derivatives market remained basically unchanged, indicating that investors still have confidence in Bitcoin. The search index for Bitcoin on search engines has decreased significantly since the halving, and the public's enthusiasm has obviously decreased. The Bitcoin market needs to brew another hot event to attract more attention from outsiders. Image source: coinmetrics, CoinMarketCap, CoinCodex, Skew, LongHash AuthorLiang Che This article comes from bitpush.news. Reprinting must indicate the source. |
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