Everyone keeping tabs on the Bitcoin network would notice the obvious slide caused by the new price highs.
This has resulted in a surprising number of unconfirmed transactions, as published by Blockchain.com.
According to Blockchain.com’s transaction count, on Oct. 27th the number of unconfirmed Bitcoin transactions exceeded 100,000 – the highest since late 2017 when it reached 180,000 as Bitcoin hit $20,000.
The current surge in the number of unconfirmed transactions was recorded when Bitcoin hit new multi-month highs. The price surpassed the $13,745 threshold on Oct. 27.
Also, amidst the bullish trend, Bitcoin recently encountered issues in its key indicators. As of Oct. 25th, Bitcoin’s hash rate rapidly dropped to 116.3 EH/s from 151.1 EH/s within 24 hours.
The “hash rate” is a key indicator of Bitcoin’s health status and, therefore, an important attribute to look out for.
Reports show that some mining data aggregators relate the drastic Bitcoin’s hash rate slide with Sichuan’s season as heavy rains in the province that led to low hydroelectric prices for miners.
To monitor bitcoin’s hit counts, keep tabs with Mempool Transaction Count data chat provided by blockchain.com.
