Х- – – 2020 – – – – – – her 2020 her Herstelt Naar 2020 Niveaus, Een Lange Weg Te Gaan

Data collected by the confidential study shows that bitcoin’s 14-day moving average hash rate is now in excess of the 100 EH / s observed in May 2020.

Based on this, the data analysis company concludes that the result of mining in China is finally complete. Expectations are also expected to rise as miners settle into their new homes.

But there is still a long way to go for a full recovery, given that the karma speed was about 200 EH / S before the FUD went into effect.

Bitcoin Hash Rate Improves
The Bitcoin hash rate analysis shows a 14-day bottom of the moving average at 88 EH / s on July 9. Since then, a peak of 14% has pushed the karma rate back to 100 EH / s, showing an improvement from Chinese FUD.

Since April, Chinese authorities have decided to ban financial institutions from dealing with crypto, and have ordered miners to cease operations for environmental protection reasons.

Not only did this lead to a drop in the price of bitcoin, but it also followed a massive exodus of miners. Analysts write that the drop in the karma rate is uncertain as Chinese miners suspend their operations, looking for new, more crypto-friendly locations.

“As the most serious consequences of the mining ban in China are eliminated and eliminated, the karma rate will increase in the coming months as more miners move to other regions.”

Several countries have signed up to welcome Chinese miners who want to move, including the United States, El Salvador and neighboring Kazakhstan.

Research from the University of Cambridge shows that Kazakhstan has turned into a mining powerhouse. In April 2020, Kazakhstan accounted for 6.2% of the world’s mixed production rate. A year later, the figure is now 8.2%.

This is partly due to The Return of the Government of Kazakhstan, which changed its mind about crypto mining in 2019. Under President Nursultan Nazarbayev, the Senate has made a number of initiatives to promote this sector. This includes legal status and favorable tax treatment on earnings from crypto mining.

Kazakhstan Goes Full C

Join the Discussion

  • BrokerEUR/USD
    FX Pro 0.91pips. (variable) margin: 3.33%
    OANDA 1.3pips (variable) margin: 3.33%
  • Back to top