The CEO of Digital Assets Data talks about the difficulty of bitcoin mining

Recent discoveries from cryptanalysis companies Data on digital assets show the miners added more to your Bitcoin (BTC).

“MRI (Miner Rolling Inventory) has declined significantly since halving, which means that Miners keep more BTC than they mine, Despite the (alleged) increase in the cost of the additional hash performance of the network, “said Mike Alfred, CEO and co-founder of Digital Assets Data, on June 18 to Cointelegraph.

Image courtesy of Digital Assets Data

Bitcoin has a hard time reaching the top levels of the network

The CEO of Digital Assets Data talks about the difficulty of bitcoin mining
The CEO of Digital Assets Data talks about the difficulty of bitcoin mining

The difficulty in mining the largest crypto activity It has increased to unusual levels lately. This essentially means that Bitcoin miners are spending more and more time and effort Run blockchain while searching for your mining salary or reward.

“We just saw it the highest level of mining difficulty ever and now we’re close the highest hash rate in history, although the reward is the lowest, “said Alfred on June 18.

Image courtesy of Digital Assets Data

Less sales could mean less supply available

Known for its large Bitcoin mutual fund, Grayscale has bought a significant amount of Bitcoin in the past few weeks. Reports in late May showed that the company bought 50% more bitcoin than the total amount mined from halving in early May.

The miner who received the most Bitcoin rewards along with Bitcoin accumulation of grayscale, leaves us with less BTC available on the market for interested buyers, explained Alfred.

Alfred moved away from a high point of view and remarked:

“In my opinion, the global macro context remains fundamentally optimistic. Although it is always possible to see lower prices in the short term, I am very confident that prices will be higher in 12 to 24 months.”

The CEO also said he expected bullish results. for assets that do not reflect the success of their underlying projects. “I am extremely optimistic about protocols like Horizen (ZEN), which have made great strides in innovative technical development, but have tokens that are still undervalued in terms of this progress,” he said.

Bitcoin has changed a lot in the past few weeks due to several bullish factors. Even the PayPal compatibility rumors were unable to get the asset out of its side-price promotion.

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