Features Crypto News by Thebittimes.Com

This month bitcoin’s hash price tapped an all-time low of $66,500 per exahash on Oct. 25, according to statistics from the onchain market intelligence firm Glassnode. Alongside this, the network’s mining difficulty reached a lifetime high at 36.84 trillion on Oct. 23. Despite the high mining difficulty and the lower prices , Bitcoin’s total hashrate reached an all -time high at 325.11 exahash per second (EH/s) as 4,578 blocks were generated during the past 30 days. Bitcoin Hash Price Sinks, Hashrate Taps a Lifetime High, Difficulty Reaches New Heights While the month of October did see an “Uptober,” as far as 30-day percentage gains are concerned, the month also saw a few mining records. The most notable was the all-time hashrate high recorded at block height 758,138, when Bitcoin’s (BTC) total hashrate reached 325.11 EH/s. Bitcoin’s hashrate reached a lifetime high in October, touching 325.11 EH/s on Oct. 10, 2022, at block height...

Despite the fact that bitcoin miners are getting bare minimums in profits per petahash per second (PH/s), and the myriad of headlines showing specific mining operations folding from the crypto winter, the network&#x2019 ;s total hashrate continues to chug along at close to 300 exahash per second (EH/s). With lower bitcoin prices and the mining difficulty at an all-time high, the current trends have not pushed bitcoin miners back in the least. Meanwhile, the next difficulty retarget scheduled to occur on or around October 23, shows another increase will take place. Bitcoin’s Hashrate Remains High Despite Current Obstacles With less than two days left, it looks as though bitcoin (BTC) miners will get another upward increase in terms of the network’s difficulty. Currently, Bitcoin’s difficulty is at an all-time high (ATH) at 35.61 trillion and the next change is scheduled to happen in less than two days on or around October 23, 2022. Bitcoin’s difficulty o...

Source: Adobe Stock Bitcoin, and crypto prices more generally, have been treading water this week, but that could change from today as producer price index (PPI) inflation data and FOMC minutes are released. First up to disturb the market from its slumber is the US PPI data, a measure of inflation at the factory gate.  Any sign of cooling will be treated as confirmation of the need for the Fed to ease off on interest rate rises. Such an outcome would light a fire under stocks and crypto prices. Conversely, if producer price inflation continues to heat up, then expect risk assets to resume their sell-off.  PPI inflation comes in lower than August reading Well the data is in and Core PPI month-on-month rose at double the level expected, by 0.4% as opposed to the 0.2% forecast.  Meanwhile, year-on-year headline PPI was 8.5%, hotter than the 8.4% forecast, although that is down from 8.7% in the previous month (August) – and that last point seems, ini...