Bitcoin Network Capacity
The Bitcoin network capacity is 54.4PH/s this week and was 45.6PH/s. This represents another major increase of mining hardware over the past week. This directly relates to a Bitcoin network growth of 119% over the span of this week. This marks two weeks of concurrent 120% growth.
Bitcoin Market Capitalization
The Bitcoin market capitalization has recovered overnight. Currently, at $6.4B, and was $5.75B the past two weeks.
The interest in China and the potential of a banking block has stifled the BTC price over the past month. However, the day of reckoning has come and gone and with the instability gone, BTC pricing has shot up.
Bitcoin Pricing Commentary
The price of BTC has rapidly rebounded from a low around mid March of approx $400/BTC to around $550/BTC.