How has the Bitcoin price responded to the network's latest hiccup?

On most days Bitcoin transactions can get verified in around 10 minutes.

| More on:
Man sitting at a desk facing his computer screen and holding a coin representing discussion by the RBA Governor about cryptocurrency and digital tokens

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Bitcoin (CRYPTO: BTC) price is up 2% over the past 24 hours.

At the time of writing, the world's original crypto is trading for US$19,571 (AU$31,104).

While the latest gains put BTC up 3% since this time last week, the Bitcoin price remains down 59% year to date.

Still, crypto investors appear unfazed by Monday's network hiccup.

Bitcoin price sails through mining delay

The network hiccup in question was the 85 minutes it took to mine a block of Bitcoin yesterday.

According to CoinDesk (citing Mempool), that left 13,000 transactions pending while the two latest blocks in the blockchain were mined by Foundry USA and Luxor.

On most days transactions can go through in around 10 minutes. But the Bitcoin price looks to have been spared any sell-off from hiccup as these types of delays, while inconvenient for some users, aren't all that unusual.

"A time between blocks of 85 minutes happens every 34 days or so," tweeted Tadge Dryja, founder of the Lightning Network.

Cryptos lift on strong tech rally

Crypto investors have been more focused on the broader, though turbulent, rally in tech stocks than any sporadic mining delays.

The Bitcoin price has traded in close correlation, though often magnified, to the Nasdaq Composite Index (NASDAQ: .IXIC) this year.

And with some bullish data indicating US consumers are in a strong position despite the inflation and interest rate headaches, the tech-heavy Nasdaq Composite is up 2.8% over the past week. This was locked in by a 3.4% gain overnight.

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Bitcoin. The Motley Fool Australia has positions in and has recommended Bitcoin. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Cryptocurrencies

Scared looking people on a rollercoaster ride representing volatility.
Cryptocurrencies

Bitcoin price volatility is back. Should ASX investors pay attention?

Bitcoin’s wild week is a reminder of how quickly digital asset markets can reverse.

Read more »

A man sits at his computer with his head in his hands while his laptop screen displays a Bitcoin symbol and his desktop computer screen displays a steeply falling graph.
Cryptocurrencies

Bitcoin price collapse leads US$1 trillion crypto crash

Bitcoin, Ethereum and most every major crypto are in freefall. But why?

Read more »

Yellow an black bitcoin with a red arrow going down.
Cryptocurrencies

This is the only reason you should be buying Bitcoin right now

Bitcoin might be in the buy zone, but only if you buy for the right reason.

Read more »

A man sits at his computer with his head in his hands while his laptop screen displays a Bitcoin symbol and his desktop computer screen displays a steeply falling graph.
Cryptocurrencies

Why is the Bitcoin price getting smashed?

Crypto investors have been selling off their Bitcoin and Ethereum holdings. But why?

Read more »

Gold Bitcoins lying on a global finance currency chart with arrows shooting higher.
Cryptocurrencies

How to join the more than 10% of Aussies now invested in cryptocurrencies

Cryptocurrencies are now the third most popular investment for Australians, behind shares and cash.

Read more »

A man lays his head down on his arms at his desk in front of an array of computer screens and a laptop computer.
Cryptocurrencies

Bitcoin price slide sends world's top crypto into bear market

The Bitcoin price tumbled 21% from October’s all-time highs.

Read more »

A rich buisnessman buys luxury items with Bitcoin
Cryptocurrencies

What's sending the gold and Bitcoin price to new record highs?

Investors are sending Bitcoin and gold surging to new record highs. But why?

Read more »

Gold Bitcoin coin in the outback.
Cryptocurrencies

Bitcoin and gold surge to record highs as investors pile into the debasement trade

A weakening dollar and record bitcoin price have investors chasing hard assets in 2025’s defining market trend.

Read more »