fluctuating in a tight range between $38,200 and $38,850 price levels<\/a>. The price movement has been characterized by the presence of small body candlesticks. These indecisive candlesticks are indicating that buyers and sellers are undecided about the direction of the market. The presence of indecisive candlesticks will prolong the current range-bound movement of Bitcoin. On the downside, if the bears break below the $38,200 support, the market will decline to the low of $37,515.70.<\/p>\r\nOn the upside, if the current support holds and Bitcoin rebounds, the bullish momentum will break the initial resistance at $38,850. It will extend above the moving averages. Bitcoin will resume its uptrend if bullish momentum is sustained above the moving averages. In the meantime, BTC\/USD is still fluctuating between $38,200 and $38,850 price levels.<\/p>\r\n
Bitcoin Network Hash Rate Increases by 400% amid Price Volatility<\/h2>\r\n
The BTC network hash rate signifies the growing number of miners on the blockchain. Since the crypto mining ban by China last year, the BTC network hash rate fell below 70 EH\/s. When Bitcoin struggled above the $40,000 price level, the network’s hash rate hit a new record high of 258 EH\/s on Thursday before settling around the 220 EH\/s mark. Bitcoin network hash rate hit a new record high by400% increase since the mining ban by China last year.<\/p>\r\n