Excellent question @jonyoudyer! Well if we head over to https://www.blockchain.com and scroll to the bottom there is a button that says "charts". The hash rate is really what we are looking for here since that indicates how much computing power all the miners are putting out for BTC mining and it appears to be dropping. We are back to where we were about July of this year and this could just be the beginning as mining has become unprofitable for most US mining companies now.
Amazingly we are still putting out around 3X the hash power that we were doing during the massive bull run a year ago!
Excellent question @jonyoudyer! Well if we head over to https://www.blockchain.com and scroll to the bottom there is a button that says "charts". The hash rate is really what we are looking for here since that indicates how much computing power all the miners are putting out for BTC mining and it appears to be dropping. We are back to where we were about July of this year and this could just be the beginning as mining has become unprofitable for most US mining companies now.
Amazingly we are still putting out around 3X the hash power that we were doing during the massive bull run a year ago!