Bitcoin Cash hashrate drops by 12% in 24 hrs and BTC dominance index can exceed 90%
Bitcoin Cash hashrate drops by 12% in 24 hrs
The computing power of the BCH network continues to decline: on February 14, the hashrate was 5 EH0/s, and now it has decreased to 3.6 EH/s. Over the past 24 hours, the figure has dropped by 12%.
Analyst Alejandro De La Torre noted that Bitcoin Cash miners are most likely going to switch to mining Bitcoin — this may be due to a decrease in the difficulty of mining the world’s first cryptocurrency.
Opinion: Bitcoin dominance index will exceed 90%
Bitcoin’s market cap may reach 90% by the end of the economic crisis, Qiao Wang, Messari analyst, thinks. Currently, the BTC dominance index is 65.9% and continues to grow.
According to Wang, traders are already starting to switch to bitcoin as the most reliable asset in the cryptocurrency market. The analyst notes that the majority of the world’s investors prefer to invest in the U.S. dollar, but soon their way of thinking will change, and they will turn their attention to cryptocurrency.
BTC has an advantage over USD because of limited supply, whereas as many dollars as you like can be printed, Wang writes.