Bitcoin Price Prediction As $20 Billion Trading Volume Comes In – Where Is BTC Heading This Weekend?

cryptonews.com:

As Bitcoin's price continues to fluctuate, with new highs and lows being reached on a regular basis, investors and traders are keeping a close eye on the market to try and predict where the price of BTC might be headed next.

Recently, a $20 billion trading volume has come into play, adding to the speculation about what the future might hold for Bitcoin. With all of this in mind, many are wondering where Bitcoin is headed this weekend, and what factors might be driving its price movements. 

In this article, we'll take a closer look at the current state of the Bitcoin market and explore some possible predictions for where the price might be headed in the near future.

Since the beginning of this year, the Bitcoin hashrate has been steadily rising. At the start of this week, the network saw an addition of 40 exahashes per second (EH/s), bringing the hashrate to a peak of 350 EH/s. 

However, just hours after the mining difficulty was adjusted on March 23, the hashrate soared to unprecedented levels. 

According to data from Mempool, the Bitcoin hashrate hit a new all-time high of 400 EH/s between March 23 and 24. This development signifies two things: an increase in the network's security and the confidence of miners in the long-term profitability of Bitcoin. 

With the recent rally, miners who have been an integral part of the network since its inception have continued to show their support for the leading cryptocurrency. 

Additionally, the Bitcoin mining difficulty has reached a record high of 46.84 trillion, a 7.5% increase from previous levels that corresponds with the progressive rise in hashrate during this period.

A higher hashrate implies that there are more miners on the network, which increases the competition to mine new