According to the source of market insights:
“The Bitcoin Hash Price has reached an all-time-low of $66,500 per Exahash. This means that BTC miners are earning the smallest reward relative to hashpower applied in history, and likely puts the industry under extreme income stress.”
As a result, this shows that throughout the 13-year history of Bitcoin, miners are making the least money.
Additionally, this is taking place while the Bitcoin network's mining complexity reaches an all-time high (ATH). Glassnode also said:
“BTC mining difficulty just reached an ATH of 158,208,051,864,292,013,637,632. Previous ATH of 152,947,196,320,564,012,646,400 was observed on 23 October 2022.”
A measure of how tough or simple it is to create new Bitcoins, mining complexity is frequently influenced by the quantity of devices connected to the network.
Because more processing power is needed to generate the same amount of blocks like before, high mining difficulty implies improved network safety.
Since more than six months ago, 78% of the BTC supply has not moved.
It appears that some hodlers have persisted in their goal despite the immovable Bitcoin supply nearing ATH.
Market researcher Will Clemente noted:
“A new all-time high 78% of Bitcoin supply has not moved in at least 6 months. Pretty remarkable in the face of the worst macroeconomic backdrop in recent history, geopolitical uncertainty, and WW3 fears. There is a group of seriously convicted hodlers out there.”
Because coins are held for uses other than speculative motive, hodling is one of the most popular methods in the Cryptocurrency market. As an illustration, hodled BTC recently reached a 5-year high, according to Blockchain.News. According to CoinMarketCap, the price of one bitcoin was selling at roughly $19,315 at the time.
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