Yonsei_dent
Bitcoin Drops to $80K, but Hashrate Hits ATH
Despite Bitcoin’s price dropping from $109K to around $80K, both the hashrate and mining difficulty have continued to reach all-time highs. While rising difficulty may seem unfavorable due to increased mining costs, it actually reflects strong fundamentals in terms of Bitcoin’s intrinsic value—namely, its mining power and network security. As Ki Young Ju, CEO of CryptoQuant, pointed out, Bitcoin’s potential market cap based on hashrate could reach as high as $5 trillion. Considering its current market cap of $1.6 trillion, the upside potential remains significant.