Cryptocurrency mining difficulty reaches the highest value. at the same time, the coin itself shows a signal indicating an extra decline in value. Overall, BTC's dominance in the digital asset market is down.
The negative dynamics of BTC failed to bother the analyst PlanB, popular within the crypto community, who commented on the rise within the level of difficulty in mining the coin. In his opinion, the record of the indicator signals a positive attitude of the miners.
He drew attention to the actual fact that BTC mining difficulty level has increased by 9% since May 2020. Halving happened on the cryptocurrency network this month. At the instant, bitcoin, consistent with the analyst, is lagging behind the symptoms of previous years. On the graph, he compared the trajectories of the BTC mining difficulty level after halving.
Against the background of the growing complexity of bitcoin mining, CTO of the platform-provider of analytical data on the digital asset market GlassNode Rafael Schultz-Kraft recalled that until recently, many members of the crypto community were scared of the surrender of miners. the rise in complexity proves the other.
Many members of the crypto community believe that bitcoin can strengthen its position within the market thanks to the quantitative easing policy chosen by the US financial regulator (artificial injection of additional freshly printed dollars into the economy). particularly, the top of the US FRS System (FRS), Jerome Powell, confirmed the course of stimulating inflation within the economy. This became known from the announcement of his speech.
The chief strategist of the Kraken cryptocurrency exchange Pierre Rochard believes that the policy of the American regulator may be a reason to speculate in bitcoin. Capriole Investments analyst Charles Edwards and lots of other popular members of the crypto community agreed together with his opinion.
While investors are analyzing the prospects for the further movement of the BTC rate, analysts have established that over the past three years, fraudsters have managed to launder over $1 million in bitcoins using the popular digital asset exchange Binance.