Points
- BitcoinCash（BCH）hashrateincreasesunexpectedlyamidasignificantpricedrop.
- Theminingpowersurgeto8.54ExaHash（EH/s）indicatesstrongernetworksecurity.
- Despitethepricedrop,miningdifficultyhasreachedanall-timehigh.
- ThecorrelationbetweenBitcoinandBCHremainsstrong,withapositivecorrelationof0.9.
BitcoinCash’sprice fell to athree-monthlow and is at risk of furtherdeclines.Conversely,there was a notable surge in miningpower,as reported byCoinWarz,which indicated that the hashrate rose to8.54ExaHash（EH/s）.The last comparable level was in November2018,when it reached7.79EH/s.Despite the pricedrop,the mining difficulty has hit anall-timehigh,suggesting stronger networksecurity.Although this increased miner interest should signal a bullish outlook for BitcoinCash,prevailing negative market sentiment has disrupted thisbalance.
WhyAreMinersFocusingonBCH?
The recent surge in hashrate is attributed to increased minerinterest,potentially indicating a bullish signal for BitcoinCash.The hashrate increase is surprising given the current marketconditions,highlighting the resilience and potential of the BCHnetwork.
KeyInsights
The BCH price is currently at$357,having lost more than5%in the last24hours.Similar to otheraltcoins,BCH’sprice trends closely followBitcoin’schart,with a positive correlation of0.9according to IntoTheBlockdata.The death cross formation observedpost-testing$476on June10and the loss of$423support increases the risk of further decline to$317.79.However,if Bitcoin can reclaim$60,000,BCH could see a rebound to$415.
解説
- TheunexpectedincreaseinBitcoinCash’shashrateamidasignificantpricedrophighlightsthecomplexdynamicsofthecryptocurrencymarket.
- Ahigherhashrategenerallyindicatesstrongernetworksecurityandincreasedminerconfidence,whichcanbeseenasbullishsignals.
- Despitethepricedecline,thestrongcorrelationbetweenBitcoinandBCHsuggeststhatbroadermarkettrendssignificantlyinfluenceBCH’sperformance.
- Investorsshouldcloselymonitorthesedevelopments,aschangesinBitcoin’spriceandmarketsentimentcouldimpactBitcoinCash’sfutureperformance.