Bitcoin prices have moved sideways in the last two weeks, trading between $ 6,600 and $ 6,200. From Tuesday morning, the cryptocurrency has lost 3% compared to the level 24 hours ago.
At the time of publication of this report, the bitcoin was trading at $ 6.285, as per CoinMarketCap. The market capitalization of the currency, that is, the total dollar value of all bitcoins, was $ 108 billion.
It is interesting to note that, despite the almost 70% drop in bitcoin compared to the historical high reached in December, the hash rate of the Bitcoin network has increased by four times compared to the December level. On Monday, the hash rate of the network was 47 million hash land per second (TH / s).
This implies that, although there is a sharp decline in the value of cryptocurrency, more machines are currently mining it, or, in other words, more machines are involved in the validation of transactions on the network.
The second most important cryptocurrency, ethereum was traded in the range of $ 170 to $ 240 in the last two weeks. Incidentally, the currency also reached its lowest last year falling to $ 170 on 12 September. Since then, it has recovered to $ 200.
At the time of publication of this report, ethereum was trading at $ 200 going down about 10% from the level 24 hours ago. Its market capitalization was $ 20.5 billion, according to CoinMarketCap.
Other important cryptocurrencies were also traded in red. XRP, which is a currency issued by the application of Ripple payments, decreased by about 2% to $ 0.27. Likewise, bitcoin cash has decreased by almost 7%. EOS also decreased by 9% in 24-hour trading.