BTC ANALYSIS IN THIS PERIOD
Fundamental indicators of the#Bitcoinnetwork are becoming positive
Recently, the#hashrateof#Bitcoinhas skyrocketed to an all-time high of over 400 #EH/s (exahashes per second), indicating that the competition in mining activities is getting fiercer. This has pushed the mining difficulty (#difficulty) to a new record high of nearly 62.46T (trillion).
The increase in#hashrateand mining difficulty shows that the intrinsic value of#Bitcoinis increasing, making Bitcoin an increasingly attractive investment for large investors (Smart Money).
In addition, the number of#Bitcoinwallet addresses active in the past 30 days has also increased sharply since mid-September, signaling an increase in on-chain transactions. The total#Bitcointransaction fees are also skyrocketing, indicating that on-chain transaction activity is becoming more and more active.
Typically, when the#Bitcoinprice increases, the number of active wallet addresses and on-chain transactions also spike, leading to an increase in network transaction fees.
In short, the fundamentals of the#Bitcoinnetwork are showing similar patterns as in previous bull phases. Even if the market may face a correction or accumulation in the near future, the bullish trend is likely to continue.
