Bitcoin’s hashrate hit a record high of over 1,100 EH/s, accompanied by a significant 6.81% increase in mining difficulty. Despite network expansion, miners face financial pressure as revenue per exahash plummeted to an all-time low of $42.40. This raises questions about whether Bitcoin’s current market price accurately reflects its intrinsic value.
While the network has seen remarkable growth and security, the price has remained volatile. The disconnect between Bitcoin’s strength and market volatility sparks speculation about undervaluation.
Some analysts believe that Bitcoin’s robust network could hold significant potential for future growth, suggesting it might be significantly undervalued based on current price levels. Comparing the Bitcoin network’s resilience to the market value of gold suggests an estimated worth of $966,704 per Bitcoin. **
** However, this remains speculative.
Despite external factors like geopolitical instability and trade policies impacting Bitcoin’s price, the increase in hashrate highlights the network’s resilience and potential for future growth.