The number of transactions per day has been on a decline since May 2019 but the data shows that the decline has stabilized and might increase from here on.

Fig. 4 : Hashrate Distribution (Source blockchain.com)

The F2Pool stands on the top contributing 18.7% to the network hash-rate followed by AntPool and Poolin. All the major pools have managed to stay in the business even after the miner's revenue have decreased due to a decline in bitcoin prices.

Conclusion :

The long term weekly charts look bullish while on the 4 hours chart, we can expect some correction. However if on the 4-hour chart, bulls are able to decisively break the resistance, we can expect to see higher price levels. Halving is one important factor which might fuel the next bull run as it has done two times historically. It is not a significant sample size but we will try to cover the effects of halving in my coming posts.

Bitcoin is at a point where a big move is expected. One way to stay market neutral is to use Long-Short strategy which generates decent alpha. Streak.world is one such platform that I use to create, backtest and automate my strategy across Equities and Cryptos. I have already discussed the platform in my earlier stories. Its one of the easiest and most economical that I have come across. I'll be sharing much more useful information, analysis and research so please stay tuned.