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Technical Analysis of the Network Difficulty: Are We Stabilizing?

Updated: Nov 12, 2021

Something new, I have never written such an article yet, but lately I have been closely following the Network Hashrate graph. And here's what I noticed:

Primitive technical analysis can be applied not only to exchange rates. In the growing Difficulty of the BTC Network, I have been using it long enough to find the correct metrics for Pessimistic, Realistic, and Optimistic scenarios.

Network Hashrate Analysis
Network Hashrate Analysis

Starting from July 10, the network hash rate began to recover, which set a trend with lower and upper peaks, and they were updated more often than once every 20 days.

At the moment, a upper peak of 189.7 EH/s was recorded on October 25th and has not been updated yet (18 days). And also 2 falling upper peaks were already recorded on November 6 (185 EH/s) and November 11 (182 EH/s).

As for the lower peaks, they also reversed the trend: November 1 (142.5 EH/s), November 9 (137 EH/s).

To confirm the reversal of an uptrend, of course, moderation of the hash rate is required over the next 10 days. But at the moment, I see the beginnings of the network hash rate starting to stabilize for the first time since July 2021.

To cancel my theory of stabilization, the hash rate needs to set a new upper peak at around 200 EH/s.

Let me remind you that the All time high of Hashrate was registered on May 9, 2021 at around 191.42 EH/s.

What do you think? Is the hash rate recovery process over or are we expecting an increase to 200 EH/s in the next couple of weeks?
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