Bitcoin's 18-Month Rising Hashrate Trend Broken, Indicating Some Miners Are Surrendering

According to Odaily, Ki Young Ju, the CEO of CryptoQuant, has recently stated that the 18-month rising trend of Bitcoin's hashrate has been broken. This development suggests that some miners are beginning to surrender. The hashrate, or computational power, of Bitcoin is a key indicator of the overall health and security of the network. A rising hashrate typically signifies an increase in the number of miners contributing their computational power to the network, which in turn strengthens the network's security. Conversely, a falling hashrate can indicate that miners are exiting the network, potentially due to factors such as unfavorable market conditions or increased competition. In this case, the break in the rising trend of Bitcoin's hashrate could be a sign that some miners are finding it increasingly difficult to remain profitable and are therefore choosing to exit the network. This could potentially have implications for the security and stability of the Bitcoin network moving forward.