Bitcoin Hashrate And Difficulty Reach New All-Time Highs, What This Means
Bitcoin has increased by 124% this year, outperforming other asset classes. It went up significantly in October, increasing from $26,752 to around $34,500 at month's end. In November, it surpassed $37,000 and is headed towards $38,000. Along with the price increase, Bitcoin's mining hashrate and difficulty have risen. The total hashrate on the Bitcoin network doubled to a new high of 662.42 EH/s this year. Mining difficulty also reached a record high at 64.68 T. This means more computing power is being used to process transactions and secure the network, reflecting bullish sentiment. Mining profitability has also increased in the past month with the rise in Bitcoin's price. As of November 17th, mining profitability reached $0.09299 per terahash/second per day.
