Bitcoin

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According to a recent JPMorgan research report, the Bitcoin mining economy showed significant improvement in the first half of November.
The “hashprice,” a key indicator of mining profitability, has increased by 29% since late October as Bitcoin’s rise has outpaced growth in network hashrate. Analysts Reginald Smith and Charles Pearce wrote that rising transaction fees, which now account for a larger portion of the block reward, have further increased profitability.
The total market value of mining companies tracked by JPMorgan increased by 33%, gaining about $8 billion between October 31 and November 15. This growth was attributed to the price increase of Bitcoin and renewed optimism in the general cryptocurrency market following Donald Trump’s presidential election victory earlier this month. Bitcoin surged as much as 30% during this period, reaching new all-time highs.
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The Bitcoin network’s hashrate increased by 2% on a monthly basis, averaging 718 exahashes per second (EH/s). Hashrate, which measures the computing power used to verify and mine transactions on the blockchain, is a key indicator of the competition among miners and the difficulty of the network.
Despite the rising hashrate, US-listed mining companies continue to hold a dominant position. JPMorgan’s report noted that the 14 US miners in its coverage area currently account for 28% of the global network’s hashrate, maintaining their record-high share of mining activity.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/important-report-on-bitcoin-economy-from-jpmorgan-there-is-serious-progress/" rel="noopener noreferrer nofollow">Important Report on Bitcoin Economy from JPMorgan: “There is Serious Progress”</a>

Important Report on Bitcoin Economy from JPMorgan: “There is Serious Progress”

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