Analysis: The computing power of the entire Bitcoin network has improved significantly, because miners want to get as much Bitcoin as possible before halving it

Bitcoinist published an analysis article on April 11 stating that the fall in Bitcoin's price last month caused a significant drop in the computing power of the entire network. Old-fashioned, inefficient miners are simply not profitable. As bitcoin prices rebound, miners are returning these miners to use. In addition, in the past few days, BCH and BSV have successively completed the halving of block rewards. It is not surprising that their computing power has dropped significantly. Because Bitcoin can be mined using the same ICD-based platform, the former BCH and BSV miners are now working Switch the network.

In fact, miners have long switched between these cryptocurrencies and other cryptocurrencies using the SHA-256 algorithm to find the platform that provides the best profitability. There is reason to assume that as the halving approaches, the hashrate will continue to grow, because miners will want to get as much bitcoin as possible before the block reward drops. With the recovery of market confidence, many mining platforms that have been dormant for a long time will be re-enabled, even if they are currently in an unprofitable state.