Bitcoin Hash Rate and Difficulty Surge Following Price Increase
Thursday, 23 May 2024, 10:21
Bitcoin Hash Rate and Difficulty Surge
The recent surge in Bitcoin's hash rate and difficulty is attributed to the increased price fueled by speculation around Ethereum ETFs. Renewed optimism for spot Ethereum ETFs led to a rise in crypto prices, impacting the hash rate over the past few days.
Interconnectedness of Cryptocurrencies
This trend highlights the relationship between major cryptocurrencies like Bitcoin and Ethereum in the market. Investors are closely monitoring these developments to gauge the overall market sentiment and potential investment opportunities.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.