{"id":359091,"date":"2021-10-28T11:13:53","date_gmt":"2021-10-28T08:13:53","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/new-bitcoin-hash-rate-highs-remove-any-trace-of-china-mining-ban\/"},"modified":"2021-10-28T11:13:53","modified_gmt":"2021-10-28T08:13:53","slug":"new-bitcoin-hash-rate-highs-remove-any-trace-of-china-mining-ban","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/new-bitcoin-hash-rate-highs-remove-any-trace-of-china-mining-ban\/","title":{"rendered":"# New Bitcoin hash rate highs remove any trace of China mining ban"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3d9a646e58a\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3d9a646e58a\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/new-bitcoin-hash-rate-highs-remove-any-trace-of-china-mining-ban\/#Hash_rate_recovers_the_dip\" >Hash rate recovers the dip<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/new-bitcoin-hash-rate-highs-remove-any-trace-of-china-mining-ban\/#Warnings_over_miner_trend_retest\" >Warnings over miner trend retest<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># New Bitcoin hash rate highs remove any trace of China mining ban <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) has all but deleted any trace of the mining ban which saw hash rate dive 50% this year.<\/p>\n<p>According to the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.blockchain.com\/charts\/hash-rate\">latest estimates<\/a>, the network hash rate is now back at levels from May, just before China outlawed its Bitcoin mining industry.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Hash_rate_recovers_the_dip\"><\/span>Hash rate recovers the dip<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Five months since the largest ever migration in Bitcoin\u2019s history began, network fundamentals have staged a major comeback.<\/p>\n<p>Coming in leaps and bounds as miners relocated and started over, the recovery in hash rate and network difficulty is now <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roaching a seminal point.<\/p>\n<p>While impossible to measure in definitive terms, hash rate has seemingly accounted for the entire China debacle, doubling from its bottom several months ago.<\/p>\n<p>Likewise, the mining difficulty is set to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/btc.com\/stats\/diff\">increase by 5.7%<\/a> next week, bringing it to within 4 trillion of its 25 trillion record high.<\/p>\n<p>Not only that, but Bitcoin will seal an eighth straight difficulty increase \u2014 the first time such an event has occurred since 2018.<\/p>\n<p>\u201cHash rate has only been higher than today on just 6 other days in history,\u201d Charles Edwards, founder of investment firm Capriole, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/caprioleio\/status\/1453295766844416014\">wrote<\/a> in associated comments. <\/p>\n<blockquote><p>\u201cWe are knocking on new all time highs in network security. That&#8217;s kind of unbelievable.\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-10\/fddce84c-6420-46d8-b289-1fbfe558c621.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin hash rate chart. Source: Blockchain<\/em><\/figcaption><\/figure>\n<p>Bitcoin has gained 50% since May, while sources hint that China could be\u00a0starting to regret its decision.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Warnings_over_miner_trend_retest\"><\/span>Warnings over miner trend retest<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Meanwhile, other data analysis questioned the sustainability of current Bitcoin price action. <\/p>\n<p><strong><em>Related:\u00a0Friday\u2019s jaw-breaking $3.2B Bitcoin options expiry could kick-start a new rally<\/em><\/strong><\/p>\n<p>Coming after BTC\/USD dipped to $58,000, figures covering miner costs pointed to a potential local top based on historical patterns.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Miner Revenue \u2797Hash Rate:<\/p>\n<p>This shows the cost to produce a marginal unit of BTC per hash. <\/p>\n<p>Testing blue trendlines as resistance has coincided with peaks in price.<\/p>\n<p>Will we see something similar again? <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/La1UbNxTL5\">pic.twitter.com\/La1UbNxTL5<\/a><\/p>\n<p>\u2014 Nunya Bizniz (@Pladizow) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Pladizow\/status\/1453383746930028548?ref_src=twsrc%5Etfw\">October 27, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Nonetheless, miners have been in no hurry to sell earned coins in recent months, a trend that continues.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-10\/c89a0933-73fc-4c98-b06b-7074c9ab13d5.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin miner outflows chart. Source: CryptoQuant<\/em><\/figcaption><\/figure>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/new-bitcoin-hash-rate-highs-remove-any-trace-of-china-mining-ban\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# New Bitcoin hash rate highs remove any trace of China mining ban &#8221; Bitcoin (BTC) has all but deleted any trace of the mining ban which saw hash rate dive 50% this year. According to the latest estimates, the network hash rate is now back at levels from May, just before China outlawed its&#8230;<\/p>\n","protected":false},"author":1,"featured_media":359092,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDgvYmQ3ZDY1MzUtZmI4Yy00ZTBiLWEwYjEtNGQ5ZjdlZjUyMjM0LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74989,74937,75462,75042,4973,73785],"class_list":["post-359091","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-mining","tag-bitcoin-price","tag-hash-rate","tag-mining","tag-china","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/359091","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=359091"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/359091\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/359092"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=359091"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=359091"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=359091"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}