SummaryGiven the problematic macroeconomic and geopolitical situation, the price of Bitcoin has remained stable and has continued to consolidate in a narrow price range since September 2022.Bitcoin's hash rate hit a new all-time high of 257.7 Exahash per second, up 13.2% from the previous month.The sharp growth in the difficulty of mining is negatively reflected in the increase in the cost of Bitcoin mining, and thus the operating income of mining companies is reduced.An increase in the interest rate by the Fed leads to a decrease in appetite for high-risk assets, which include Bitcoin.The increase in the price of the most significant world indices, namely the S&P 500 (NYSEARCA:SPY) and Nasdaq 100 (NASDAQ:QQQ) by 5% this week contributed to the growth of investment interest in cryptocurrencies, which are still under pressure. The economic situation in the world continues to deteriorate due to rising inflation, which entails an increase in the cost of mining equipment. The economic growth of China, which is the second largest Bitcoin mining country, slightly accelerated in Q3 2022 but remains at multi-year lows. Moreover, youth unemployment remains high at 17.9%, and combined with lower house prices, these factors could exacerbate China's property crisis and put severe pressure on the economies of many Asian countries. As a result, this will lead to an accelerated decline in investment interest in high-risk assets, which in...
What Happened In Crypto This Week?
