• Crypto Lists
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • Altcoin
  • Advertise With Us
  • Join our Telegram Community
Newsletter
ItsBlockchain
  • Bitcoin
    Is the Russia-Ukraine War the Biggest Test for Bitcoin? Market Update

    Is the Russia-Ukraine War the Biggest Test for Bitcoin? Market Update

    Bitcoin ETFs could have the same result as CME group futures launch in 2017

    Bitcoin ETFs could have the same result as CME group futures launch in 2017

    featured image

    How Bitcoin can be hacked?

    keep bitcoin safe

    Keep Your Bitcoins Safe: All You Need to Know About Crypto-Cyberthreats

    featured image

    Bitcoin IRA – Everything You Need to Know

    A trillion dollar tsunami is about to hit Bitcoin

    A trillion dollar tsunami is about to hit Bitcoin

    featured image

    Why Bitcoin will always be the number one cryptocurrency? Explained

    Crypto markets mirror Wall Street’s fall- Loses 100 billion in 24 hours and Delta Plus Variant creates extreme fear

    Crypto markets mirror Wall Street’s fall- Loses 100 billion in 24 hours and Delta Plus Variant creates extreme fear

    On-chain shows Divergence against Bearish Price-Action, But Bitcoin continues to stay in the Re-Accumulation Phase

    On-chain shows Divergence against Bearish Price-Action, But Bitcoin continues to stay in the Re-Accumulation Phase

    Trending Tags

    • Crypto Gems
    • NFT
    • DEFI
    • Crypto Lists
    • Altcoin
    • Crypto Market
    • Guide
    • IBC Capital
    No Result
    View All Result
    • Bitcoin
      Is the Russia-Ukraine War the Biggest Test for Bitcoin? Market Update

      Is the Russia-Ukraine War the Biggest Test for Bitcoin? Market Update

      Bitcoin ETFs could have the same result as CME group futures launch in 2017

      Bitcoin ETFs could have the same result as CME group futures launch in 2017

      featured image

      How Bitcoin can be hacked?

      keep bitcoin safe

      Keep Your Bitcoins Safe: All You Need to Know About Crypto-Cyberthreats

      featured image

      Bitcoin IRA – Everything You Need to Know

      A trillion dollar tsunami is about to hit Bitcoin

      A trillion dollar tsunami is about to hit Bitcoin

      featured image

      Why Bitcoin will always be the number one cryptocurrency? Explained

      Crypto markets mirror Wall Street’s fall- Loses 100 billion in 24 hours and Delta Plus Variant creates extreme fear

      Crypto markets mirror Wall Street’s fall- Loses 100 billion in 24 hours and Delta Plus Variant creates extreme fear

      On-chain shows Divergence against Bearish Price-Action, But Bitcoin continues to stay in the Re-Accumulation Phase

      On-chain shows Divergence against Bearish Price-Action, But Bitcoin continues to stay in the Re-Accumulation Phase

      Trending Tags

      • Crypto Gems
      • NFT
      • DEFI
      • Crypto Lists
      • Altcoin
      • Crypto Market
      • Guide
      • IBC Capital
      No Result
      View All Result
      ItsBlockchain
      No Result
      View All Result
      Home bitcoin

      Bitcoin Hashrate dropped by 36% in less than a week, new lows ahead?

      Hitesh Malviya by Hitesh Malviya
      March 19, 2020
      in bitcoin, Crypto Market
      0 0
      0
      Bitcoin Hashrate dropped by 36% in less than a week, new lows ahead?
      120
      SHARES
      1.1k
      VIEWS
      Share on FacebookShare on Twitter

      Bitcoin hashrate has dropped quite significantly from 124,250, 397 TH/S to 82,285,031 in less than a week. Hashrate has dropped by over 36% in less than a week, recorded a 20% loss of network value in last 24 hours.

      Bitcoin Hashrate

      Bitcoin has lost over 50% value in last two weeks because of ongoing coronavirus pandemic fear among global equities, metals and stock markets.

      Currently, Miner break even cost is at 7750$, that should increase eventually after Bitcoin halving which is scheduled to take place in May. Bitcoin is currently trading 30% below the miner break-even cost.

      Few small scale miners have already started shutting down their operations because of overall unprofibaility of mining bitcoin.

      When bitcoin’s price drops below the cost of production, however, miners generally sell the bare minimum required to fund their operations, and that result into bitcoin price drop.

      Although Bitcoin could drop further from its current price levels, but Bitcoin can find bottom soon in next 2-4 weeks.

      Bitcoin Technical Analysis – 4H

      BTCUSD – 4H (Bitstamp)

      Findings

      • Bear Flag formation on 4H Timeframe, which is a bearish pattern.
      • Bitcoin is holding support above 21MA, and 50MA should act as an immediate resistance.
      • Bollinger bands are tighting up, suggests possibility of big move.

      Opinion

      In our opinion, Bitcoin can find resistance at 5800-6200$ area, and can drop further from there.

      Hitesh Malviya

      Hitesh Malviya is the Founder of ItsBlockchain. He is one of the most early adopters of blockchain & cryptocurrency enthusiast in India. After being into space for a few years, he started IBC in 2016 to help other early adopters learn about the technology.
      Before IBC, Hitesh has founded 4 companies in the cyber security & IT space.

      IBC-Transparent-Logo-(1)

      Subscribe To Our Newsletter

      Join our mailing list to receive Cryptocurrency investing and trading recommendations to your mailbox.

      You have Successfully Subscribed!

      Tags: bitcoin hashratefeatured
      Share65Tweet23Share9

      Subscribe to get notified on latest posts.

      Unsubscribe

      Related Posts

      Is the Russia-Ukraine War the Biggest Test for Bitcoin? Market Update

      Is the Russia-Ukraine War the Biggest Test for Bitcoin? Market Update

      by Karthik Guttha
      February 27, 2022
      0

      It has been one hell of a week. The global affairs surrounding Russia and Ukraine have escalated to unexpected levels,...

      What’s Ahead on the Cryptocurrency Rollercoaster?

      What’s Ahead on the Cryptocurrency Rollercoaster?

      by Guest Author
      January 11, 2022
      0

      Cryptocurrency came on fast and furious and surprised financial experts, governments, and users alike with massive fluctuations and outstanding climbs...

      Discussing Bull & Bear Cases in 2022 with On-Chain Analysis

      Discussing Bull & Bear Cases in 2022 with On-Chain Analysis

      by Karthik Guttha
      January 9, 2022
      0

      In our previous on-chain market analysis, we mainly discussed that bitcoin needs to reclaim the $53k level, which is the...

      Highlights from 2021: The Year of Crypto

      Highlights from 2021: The Year of Crypto

      by Karthik Guttha
      December 31, 2021
      0

      2021 will be remembered as a year when we defied the odds.  We lost hope in traditional financial systems that...

      On-Chain Data Shows Open Interest is Reset to Previous Lows in May, Indicating a Spot-Driven Market

      On-Chain Data Shows Open Interest is Reset to Previous Lows in May, Indicating a Spot-Driven Market

      by Karthik Guttha
      December 12, 2021
      0

      The crypto market has been making violent swings over the past couple of weeks. The new covid variant, Omicron, certainly...

      Load More

      About Us

      We curate the best cryptocurrency projects with the intention of adding value for investors through the process of selecting, organizing, and looking after different projects available in the cryptocurrency market.

      • Trending
      • Comments
      • Latest
      featured image

      List of leading partners of Ripple, and How they use XRP?

      February 2, 2021
      WTF is an xNFT? And Why Should You Care

      WTF is an xNFT? And Why Should You Care

      June 22, 2022
      featured image

      List of ChainLink Partnerships which skyrocketed the growth of LINK cryptocurrency

      February 2, 2021
      Pi Network: Scam or Legit?

      Pi Network: Scam or Legit?

      April 30, 2021
      Top 15 NFT influencers on Twitter you should follow right now

      Top 15 NFT influencers on Twitter you should follow right now

      September 28, 2021
      crypto traders 2021

      Top 5 Crypto traders to follow on Twitter in 2021

      May 29, 2021
      Top 10 DAOs to Join as a member in 2022

      Top 10 DAOs to Join as a member in 2022

      December 17, 2021
      MetaOasis: The Next-Gen Game Publishing Platform You Should Care About

      MetaOasis: The Next-Gen Game Publishing Platform You Should Care About

      June 27, 2022
      WTF is an xNFT? And Why Should You Care

      WTF is an xNFT? And Why Should You Care

      June 22, 2022
      Prime Stake and Oreol Staking – big conference in Denver

      Prime Stake and Oreol Staking – big conference in Denver

      June 15, 2022
      Magic Square Integrates With deBridge

      Magic Square Integrates With deBridge

      May 24, 2022
      DCAProfit Releases A New DCA Calculator Supporting Dozens Cryptocurrencies And DJIA Performance Comparison

      DCAProfit Releases A New DCA Calculator Supporting Dozens Cryptocurrencies And DJIA Performance Comparison

      May 19, 2022
      The Sandbox Game Beginner Guide: How to buy land in Sandbox Metaverse

      The Sandbox Game Beginner Guide: How to buy land in Sandbox Metaverse

      May 18, 2022
      Terra Protocol (LUNA) Collapse Resembles 08’ Financial Crisis, Caused by Lehman Brothers

      Terra Protocol (LUNA) Collapse Resembles 08’ Financial Crisis, Caused by Lehman Brothers

      June 27, 2022
      • Top 10 Cheap Cryptocurrencies with Huge Potential in 2021 | Best Penny Crypto Coins

        Top 10 Cheap Cryptocurrencies with Huge Potential in 2021 | Best Penny Crypto Coins

        29551 shares
        Share 11809 Tweet 7381
      • A Mysterious Bitcoin Whale who sold 3000 Bitcoins at 58K$, Bought back 3521 Bitcoins in the last three days

        9904 shares
        Share 3960 Tweet 2475
      • Top 10 Low market cap altcoins to invest in 2021

        7222 shares
        Share 2887 Tweet 1805
      • Top 10 NFT Crypto Projects You Should Know

        7223 shares
        Share 2602 Tweet 1627
      • List of leading partners of Ripple, and How they use XRP?

        5435 shares
        Share 2174 Tweet 1359
      ItsBlockchain

      We are India’s first and oldest Blockchain & Cryptocurrency publication platform started in 2016. We are a one-stop destination for technical analysis, cryptocurrency recommendations, and Blockchain technology resources.

      Buying Guides

      • Buy Bitcoins in India
      • Buy Bitcoins in China
      • Buy bitcoins in Russia
      • Buy Bitcoins in Japan
      • Buy Bitcoins in Turkey

      Important Links

      • Home
      • About US
      • Privacy Policy
      • Promote Your ICO
      • Submit post

      Follow Us

      Contact us

      support@itsblockchain.com

      © 2020 itsblockchain.com - Designed and maintained by Fanatic Coders

      No Result
      View All Result
      • Bitcoin
      • Crypto Gems
      • NFT
      • DEFI
      • Crypto Lists
      • Altcoin
      • Crypto Market
      • Guide
      • IBC Capital

      © 2020 itsblockchain.com - Designed and maintained by Fanatic Coders

      Login to your account below

      Forgotten Password?

      Fill the forms bellow to register

      All fields are required. Log In

      Retrieve your password

      Please enter your username or email address to reset your password.

      Log In
      This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.