Bitcoin hash rate nears record 200EH/s as 100K BTC turns ‘illiquid’ every month

Bitcoin’s hash rate has been on a steady incline in recent weeks with the price hovering around $6,500. This means that each day about $150K worth of BTC turns “illiquid.” Experts are unsure what this will mean for Bitcoin valuation and whether or not it is too late to be an investor.

The average Bitcoin hash rate has now reached a record high of 198.9EH/s, as 100K BTC turns ‘illiquid’ every month. This means that the network is becoming more and more difficult to mine in its current form, which could be bad news for miners who are looking at large returns on their hardware investments.,

The “bitcoin hashrate” is a measure of how many hashes per second can be performed by the Bitcoin network. It has recently been nears 200EH/s, which is nearly double what it was at the beginning of 2018.

Bitcoin (BTC) is set to reach a new all-time high in one key region, and large mining pools are likely to have already secured the title.

According to data from the monitoring site MiningPoolStats, the Bitcoin network hash rate is almost at its highest level ever as of Dec. 20.

The specter of China is defeated by the hash rate.

Despite the price drop from $69,000, the hash rate continues to rise, and the amount of processing power from known pools has reached an all-time high.

While it’s hard to gauge precisely how much processing power is committed to mining, estimations concur that Bitcoin is more appealing to miners — and hence more secure — than ever before.

This week, the overall hash rate was 188.9 exahashes per second (EH/s), with the known pool hash rate being 182.4 EH/s.

Only once previously has the latter been greater, according to MiningPoolStats, when it reached 209.3 EH/s in early May, shortly before the China miner collapse. Pools that are well-known, on the other hand, have never been more crowded.

As a result, not only has the hash rate recovered from the Chinese crackdown, but it is currently stronger than it has ever been in Bitcoin’s history.

A graph of Bitcoin’s hash rate. MiningPoolStats is the source for this information.

This winter, BTC will be supplying ice.

As reported by Cointelegraph, there seems to be little demand to sell BTC at present prices as miners and hodlers both scour the market for spare supply.

Bitcoin’s Santa bounce is on pause as a hedge firm predicts a’short squeeze’ in the new year.

On Dec. 23, figures from on-chain analytics company Glassnode verified the pattern, revealing that the amount of BTC supply that has gone from “liquid” to “illiquid” is currently 100,000 BTC every month.

At a pace of 100k $BTC per month, #Bitcoin supply is transitioning from liquid to illiquid.

Illiquid coins are those delivered to an address with limited spending history, and are often connected with investor accumulation and bull market purchasers.

https://t.co/08CRwqLMpx pic.twitter.com/3iqTylLPYJ Live Chart

December 21, 2021 — glassnode (@glassnode)

According to Glassnode, the accumulation phase started as a result of China’s instability. More data shows that illiquid supply fluctuations have a favorable influence on price activity.

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The “200 hashrate ethereum” is a record high for the Bitcoin hash rate. This means that the amount of hashing power dedicated to mining Ethereum has reached 200EH/s. Additionally, 100K BTC turns “illiquid” every month which means that it becomes harder and harder to sell your coins as people continue to buy them up.

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