Bitcoin's Network Fundamentals Post-halving
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Bitcoin's Network Fundamentals Post-halving

By Interdax | interdax | 28 May 2020


It’s been just over two weeks since Bitcoin’s block subsidy halving. How have network fundamentals changed since the start of the fourth mining epoch?

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Summary:

  • Hash rate has fallen ~30% but Bitcoin’s share of the combined hash rate for the top 3 SHA-256 coins slightly increased after the halving.
  • BTC-USD failed to break the $10,000 handle. Large spikes in mining pool-to-exchange BTC flows were observed during advances towards the $10,000 handle.
  • A downward adjustment in mining difficulty (~-15.9%) is estimated to occur on June 5th.
  • The production of blocks has slowed on the Bitcoin network, with the average block times which is ~20% higher than the expected value of 600 seconds. The daily average block size also increased after the halving, reaching a high of 1.4MB.
  • Issuance of BTC in terms of USD is at historically low levels (below 0.50) according to the Puell Multiple, which suggests it is potentially an optimal time to buy bitcoin.
  • Average transaction fees have increased to levels not seen since mid-2018. As a proportion of the block subsidy, fees reached a two-year high after the halving.

Read more here: https://medium.com/interdax/bitcoins-network-fundamentals-post-halving-b2229460881f?source=friends_link&sk=8ef655cba0e426e6f0c5938aa7786fed


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