Bitcoin Records Lifetime Mining Difficulty as BTC Slumps
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Bitcoin’s hashrate currently runs at a high of 253.39 exahash per second (EH/s), after tapping an all-time high of 271.19EH/s at block 733,194 on April 22.
That said, estimates project that the network difficulty could drop by 0.07% in the next difficulty adjustment, two weeks from today.
Also, the estimated hashrate over the last 90 days was 201.8 EH/s, with the next difficulty adjustment expected to occur around May 10, 2022. Using the current exchange rates, the current block subsidy of 6.25 BTC is $247,500.
Meanwhile, there are currently 106.167 blocks left before the next halving takes place. In the next 48 hours, Bitcoin should have reached its midpoint until the next halving.
The next halving event is expected to occur around April 27, 2024. Miners will record a halving of their block subsidy from 6.25 BTC to 3.125 BTC immediately after the halving takes place.
Key Bitcoin Levels to Watch — April 28
Bitcoin is on track to record its second consecutive bullish daily performance since its slump from $43K last week. However, it has to plant a solid footing atop the $41K pivot top, where the daily 100 EMA resides.
However, the benchmark cryptocurrency currently struggles to scale the $40K psychological hurdle as bears fight back. Failure to secure the renewed momentum into the end of the day could send the flagship cryptocurrency spiraling towards the $37K low in the coming days.
Meanwhile, my resistance levels are at $40,000, $41,000, and $42,000, and my key support levels are at $38,500, $37,500, and $36,000.
Total Market Capitalization: $1.82 trillion
Bitcoin Market Capitalization: $755.5 billion
Bitcoin Dominance: 41.4%
Market Rank: #1
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