Crypto News

Bitcoin Surpasses Expectations, Setting New Records as November Concludes, December Historically Poses More Surges For Bitcoin 

As we bid farewell to a bullish November, Bitcoin ($BTC), the world’s leading cryptocurrency, achieved remarkable milestones, boasting a noteworthy 10% gain for the month and reaching a yearly high at $38,415 this week.

In the recent hours, Bitcoin marked another extraordinary feat by hitting an all-time high in Bitcoin Hashrate, registering an impressive 490,000,000,000,000,000,000x Hashes Per Second. The surge in hashrate, a measure of the network’s computational power, signifies a substantial influx of new miners joining the network. This surge is seen as a positive indicator, reflecting a robust and expanding Bitcoin network. The notable increase in hashrate is attributed to Ordinals and the anticipated Halving.

Providing an update on the Bitcoin Halving progress, it is currently at 90%, with the current block standing at 818,996. The Halving Block is projected to occur at 840,000, leaving approximately 21,004 blocks remaining. The estimated time remaining is 146 days, setting the expected Halving date for April 23, 2024.

Looking ahead, historical data suggests that December tends to witness more price rises than falls for Bitcoin. As November concludes, the anticipation is heightened by the ongoing considerations and approvals related to Exchange-Traded Funds (ETFs). Traders are optimistic, hoping that the bullish trend observed in November extends into the first quarter of 2024.

Bitcoin’s resilience and the positive indicators, including the increased hashrate and progress toward Halving, contribute to a sense of optimism among the cryptocurrency community. As the year concludes, attention remains focused on the potential developments and regulatory decisions that could shape Bitcoin’s trajectory in the coming months.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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