Bitcoin course slows down after annual high: is the bull market taking summer break?

Von Krypto News Österreich

Bitcoin verzeichnet seit dem Jahreshoch von 31.276 US-Dollar am 3. Juli einen leichten Rückgang. Aktuell liegt der Kurs bei 30.200 USD und hat in der vergangenen Woche 1,3 Prozent an Wert verloren. Auch wenn der Kurs gerade etwas schwächelt, scheint der Bullenmarkt noch nicht vorbei zu sein. Die Bitcoin-Miner lassen sich jedenfalls nicht vom Seitwärtstrend beeindrucken. Mit einer Hashrate von 377 Exahashes pro Sekunde (EH/s) sind sie dem Allzeithoch von rund 380 EH/s sehr nahe. Die Miner konkurrieren also weiterhin um wertvolle Coins, bevor die Mining Belohnung im April 2024 erneut halbiert wird. In der letzten Zeit ist die Hashrate …
Bitcoin has had a slight decline on July 3 since the annual high of $ 31,276. The course is currently $ 30,200 and has lost 1.3 percent in value last week. Even if the course is just weakening, the bull market doesn't seem to be over yet. In any case, the Bitcoin miners are not impressed by the sideways trend. With a hashrate of 377 Exahashes per second (EH/S), you are very close to the all -time high of around 380 EH/s. The miners continue to compete for valuable coins before the mining reward is halved again in April 2024. The hashrate has recently ... (Symbolbild/KNAT)

Bitcoin has had a slight decline since the annual high of $ 31,276 on July 3. The course is currently $ 30,200 and has lost 1.3 percent of value last week.

Even if the course is just weakening, the bull market doesn't seem to be over yet. In any case, the Bitcoin miners are not impressed by the sideways trend. With a hashrate of 377 Exahashes per second (EH/S), you are very close to the all -time high of around 380 EH/s. The miners continue to compete for valuable coins before the mining reward is halved again in April 2024.

The hashrate has decreased slightly recently, since heat waves in Texas have led to an increased electricity requirement in other sectors and the miners therefore took part of their ASIC devices from the network. Most of them are now online again.

According to the Bitcoin Difficulty Estimator, the mining difficulty will be corrected by 7.3 percent the next time it is adjusted. This adaptation will take place on July 12th.

There are also positive signals for Bitcoin from a evaluation perspective. The MVRV-Z score, which compares the market capitalization with the realized market capitalization, indicates with a value of 0.7 that Bitcoin is still rated relatively moderate. The coin is still far from the overvalued area.

Another reason for the low volatility on the market is the falling activity of Bitcoin whales. These traders have more than 1,000 coins and usually have a big influence on the course