Points
- BitcoinCash’spricefelltoathree-monthlow,butitshashratesurgedto8.54ExaHash（EH/s）.
- Increasedminingdifficultysuggestsstrongernetworksecurity.
- Despitenegativemarketsentiment,increasedminerinterestindicatespotentialbullishsignals.
- BitcoinCash’spricetrendscloselyfollowBitcoin’schart,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?
Recent data shows a significant interest from miners in BitcoinCash.This increased mining activity is typically a bullishsignal,suggesting that miners expect future priceincreases.However,the broader market sentiment remainsnegative,creating a complex situation forinvestors.
KeyInsights
- BitcoinCash’shashratehasincreasedunexpectedlyamidasignificantpricedrop.
- RecentminerinterestsuggestsapotentiallybullishsignalforBCH.
- BCH’spriceperformanceshowsastrongcorrelationwithBitcoin’schart.
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
- TheunexpectedriseinBitcoinCash’shashrateamidapricedeclinesuggeststhatminersareanticipatingafuturepricerecovery.
- Increasedminingdifficultyisapositiveindicatorofnetworksecurityandminerconfidenceinthelong-termpotentialofBCH.
- ThestrongcorrelationbetweenBCHandBitcoinindicatesthatBCH’spricemovementsareheavilyinfluencedbyBitcoin’smarketperformance.
- InvestorsshouldmonitorbothBitcoinandBitcoinCashclosely,assignificantchangesinBitcoin’spricecouldimpactBCH’strajectory.