Decrease in Bitcoin Mining Difficulty Could Signal a Bottom in BTC Price

Jul 10, 2024

Bitcoin's total hash rate has declined, leading to a 7.8% decrease in the Bitcoin network's block-mining difficulty. This drop in hash rate and difficulty is rare and has historically been associated with a bottom in Bitcoin prices. Miner capitulation is ongoing, with the daily average mined value currently at 72% of the yearly average.

This article is for informational purposes only. It is not offered or intended to be used as investment or other advice.

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