NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Tether Targets $500 Billion Valuation In New Equity Offering Amid US Expansion Plans
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Tether Targets $500 Billion Valuation In New Equity Offering Amid US Expansion Plans

Bitcoin’s Network Strengthens: Mining Difficulty And Hash Rate Spike Amid ETH ETF Buzz

Samuel Edyme
Samuel Edyme
1 year ago
3 mins read
Bitcoin Network Strengthens

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Bitcoin mining difficulty has adjusted upwards by nearly 2%, reaching over 84.4 trillion, as the network’s average hash rate surged past 600 EH/s.

This increase comes amid growing optimism in the crypto market, particularly due to speculation about the potential approval of spot Ethereum ETFs in the United States. Notably, Bitcoin mining difficulty measures how difficult it is to find a hash below a given target.

The Bitcoin network has a global block difficulty that adjusts every 2,016 blocks (roughly every two weeks) to ensure that the time between blocks mined remains around 10 minutes, despite the number of miners and their growing computing power.

Related Reading

Bitcoin (BTC)

Bitcoin’s Significant Adjustment: Mining Difficulty Hits 18-Month Low – What’s Next For Miners?

1 year ago

This difficulty adjustment helps maintain the network’s regular block time, ensuring stability and security.

Significant Shifts In Bitcoin Mining

The adjustment of BTC mining difficulty seen earlier this month marked a significant shift, as the metric saw a drop of nearly 6%, the largest decrease since the bear market in December 2022.

Bitcoin Network Hashrate.
Bitcoin Network Hashrate. | Source: Hashrateindex

This rebound in hash rate from the 580-590 EH/s range to over 600 EH/s aligns with a broader crypto market rally fueled by expectations of regulatory advancements in Ethereum products.

The concept of mining difficulty is crucial for understanding how Bitcoin self-regulates the production of new blocks. The difficulty increases as more miners join the network, making it harder to mine new blocks.

Conversely, the difficulty drops if the number of miners decreases, making mining easier. This mechanism ensures that the introduction of new BTC into the market remains steady and predictable, irrespective of fluctuations in the number of miners.

This recent increase in mining difficulty coincides with a slight recovery in Bitcoin’s hash price, which had fallen to an all-time low at the end of April.

The hash price, a metric developed by Luxor, a Bitcoin mining services firm, measures the expected earnings per unit of hash rate daily. It has rebounded from less than $50 per PH/s per day to around $54.6 per PH/s per day, providing a minor relief to miners after the recent market downturns.

Bitcoin Hashprice Index.
Bitcoin Hashprice Index. | Source: Hashrateindex

Bitcoin’s Price Movements And Future Expectations

While Bitcoin’s price has experienced a minor dip of 2% in the last 24 hours, it maintains a weekly uptrend of 3.9%, trading at $68,132.

Bitcoin (BTC) price chart on TradingView
BTC price is moving sideways on the 2-hour chart. Source: BTC/USDT on TradingView.com

This movement is closely watched as investors and traders await the US Securities and Exchange Commission’s decision on spot Ethereum ETFs, which could significantly influence the entire crypto market.

In response to these developments, a prominent analyst known as BitQuant shared insights via social media platform X, predicting substantial growth for Bitcoin. According to BitQuant, Bitcoin is expected to reach $95,000, with a significant rise to $80,000 anticipated in May.

Related Reading

Bitcoin price

Bitcoin Price Drop Below $70,000 Apparently Driven By Lack Of Interest, Glassnode Data Shows

1 year ago

However, BitQuant also forecast a sharp decline from this local peak in June, maintaining that the overall timeline for this top has not changed.

Several updates for those here to build generational wealth and not involved in day trading:
1. Yes, #Bitcoin is going to $95K.
2. Yes, $95K will extend to June, but the sharp decline from this local top will also occur in June, so the overall timeline for this local top hasn’t… pic.twitter.com/VFvMweBVbs

— BitQuant (@BitQua) May 22, 2024

Featured image created with DALL·E, Chart from TradingView

Tweet123Share196ShareSend
Samuel Edyme
Samuel Edyme

Samuel Edyme

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

cz-double-sa-mise-sur-ethena

Changpeng Zhao double sa mise sur Ethena : ENA va-t-il repartir à la hausse ?

n eChangpeng Zhao a renforcé son exposition à Ethena via YZi Labs, sa structure d’investissement. Le signal tombe à un...

evanss 2 hours ago

Metaplanet a Strategy kúpili Bitcoiny za vyše 700 miliónov dolárov

Bitcoin opäť udáva tón svetovým finančným trhom. Spoločnosti Metaplanet a Strategy nakúpili kryptomenu za stovky miliónov dolárov, čím posilnili dôveru...

Nina Šefčíková 3 hours ago
deutsche-bank-compare-bitcoin-or

Deutsche Bank compare le Bitcoin à l’or : “l’histoire se répète”

Deutsche Bank avance que Bitcoin pourrait rejoindre l’or sur les bilans des banques centrales d’ici 2030, non pour le remplacer...

evanss 3 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin Whales

Bitcoin Whales Sell 147,000 BTC Since August, Fastest Selloff Of Cycle

Keshav Verma 1 hour ago
Fitell Makes Bold Crypto Pivot as Australia’s First Solana Digital Asset Treasury, Will Snorter Token Be Next 1000x Crypto?

Australia’s First Solana Digital Asset Treasury: Will Snorter Token Be Next 1000x Crypto?

Aaron Walker 2 hours ago
Bitcoin

Bitcoin Is Not Done Yet Despite Price Crash To $112,000, Here’s Why

Scott Matherson 2 hours ago

Premium Sponsors

Press Releases

  • A kincstári kriptovaluta-részvények hanyatlása, miközben a kereskedők biztonságosabb kriptovaluta előértékesítések felé fordulnak, mint például a PEPENODE

    A kincstári kriptovaluta-részvények hanyatlása...

    11 seconds ago
  • Aster z Binance rośnie o 1800% w tydzień pomimo spadku na rynku: Czy Bitcoin Hyper będzie następny?

    Aster z Binance rośnie o 1800% w tydzień pomimo spadku na...

    43 seconds ago
  • Akcje skarbowe krypto w spadku, podczas gdy traderzy zwracają się ku bezpieczniejszym przedsprzedażom kryptowalut, takim jak PEPENODE

    Akcje skarbowe krypto w spadku, podczas gdy traderzy...

    1 hour ago
  • Binanceův Aster roste o 1800 % za týden navzdory pádu trhu: Je Bitcoin Hyper dalším na řadě?

    Binanceův Aster roste o 1800 % za týden navzdory pádu...

    2 hours ago
  • Binanceov Aster raste 1800% u tjedan dana unatoč padu tržišta: Je li Bitcoin Hyper sljedeći?

    Binanceov Aster raste 1800% u tjedan dana unatoč padu...

    2 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.