247
The global production of bitcoin has fully recovered from the fact that the Chinese authorities have banned mining and any operations with cryptocurrency in the country. After that, in July 2021, more than half of all miners on the planet went offline almost simultaneously.
Recovery is measured in hash - the total computing power of all miners on the Bitcoin network. After the decision of the PRC authorities, this figure fell by more than 50%, but soon mining pools began to move to more crypto-friendly countries. However, according to Blockchain.com, by December 13, the hash rate had fully recovered to pre-crisis levels. In just five months after the announcement of Beijing, the network hash rate has grown by about 113%. At the beginning of the month, this figure reached 191 exaheshes per second (EH / s). This is a kind of record - was only one more time, on April 15 (198 EH / s).
Experts consider hashrate recovery a good sign of BTC growing. Over the past month, the cost of bitcoin has dropped by 30%. According to the WhiteBIT crypto exchange, as of December 14, one token is trading at $ 47.1 thousand. At the same time, none of the cryptanalysts interviewed by journalists could have imagined that the hash rate would recover so quickly. Some of them believed that this would happen no earlier than January-February 2022
