Glassnode: Declining Bitcoin network activity suggests a longer bear market

[Glassnode: Decline in Bitcoin network activity indicates that the bear market will last longer] On August 2, Glassnode stated that since several on-chain indicators of Bitcoin (BTC) are still in the bearish range, the continuation of the recent price recovery will require an increase in the network needs and expenses. Analysts pointed to sideways growth in transaction demand, active-ethexc bitcoin addresses remaining in a "clear downtrend," and lower network fees as tempering investor euphoria over bitcoin's 15% surge in price over the past week reason.

Glassnode stated that the decrease in network activity can be explained by the lack of new demand for the network from speculative traders and investors with high confidence in the network technology. The additional demand needed to sustain further price increases is not currently in sight. Glassnode refers to the steady decline in active-ethexc addresses as a "low bear market demand condition," which has largely been in place since December. (Cointelegraph)

Other news:

Glassnode: The difficulty of Bitcoin mining is only 3.5% lower than the highest point in history: Jinse Finance reported that the blockchain analysis company Glassnode tweeted that the difficulty of mining Bitcoin is only 3.5% lower than the highest point in history. During the Great Migration, 52% of the network hash power went offline and it took 180 days to recover almost fully. [2021/12/16 7:43:03]

Glassnode: It will take about 112 years to mine the remaining 2.1 million BTCs: According to Jinse Finance, according to Glassnode's latest analysis, the circulating supply of Bitcoin has now exceeded 18.9 million, and the mining time for these BTCs is about 12.9 years, while the remaining 2.1 million It takes about 112 years for a BTC, that is, it will be around 2133 to mine all Bitcoins. [2021/12/14 7:38:25]

Glassnode Insights: After "6.19", the income of online Bitcoin miners increased by 57%: August 18 news, according to a report released by Glassnode Insights this Monday, due to factors such as the adjustment of mining difficulty, after "6.19" The income of Bitcoin miners who insist on online mining has increased by 57%, and is currently about 8.8 BTC/EH. In mid-June, Bitcoin miners in Sichuan and other provinces collectively cut off power, and it is estimated that 90% of China’s Bitcoin miners have migrated, causing the entire network’s computing power to plummet by 50%. But as miners move overseas, Will Clemente, chief analyst at Blockware Solutions, believes that mining competition has also begun to decrease, and profitability has become higher for miners who are still operating. However, the competition for mining revenue may intensify afterwards. Glassnode pointed out in the report that the Bitcoin computing power has increased by about 25% in the past two months, and the difficulty of mining has also increased twice in a row. In other words, compared to Two months ago, you would now be paid less in BTC for the same effort. [2021/8/18 22:21:19]