Bitcoin Fails to Generate Block for Over an Hour, Here’s What Happened

PeckShield Alert has reported an abnormal circumstance on the Bitcoin network, after one of the blocks seemingly took 65 minutes more to be mined, delaying the confirmations of many transactions.

Alternatively, Bitcoin typically take up to 10 minutes on block mining operation.

This abnormal slowdown followed a similar cases occurred on October last year, when the time between 2 blocks registered a difference of
85 minutes.

At press time, the leading crypto market is trapped in an $1.2 trillion market, where it fluctuates in a range between $30,000 and $31,000, while alternative coins were eventually surging.

Crypto analyst Willy Woo revealed there are early signs that a further escape from the BTC consolidation period could be on it’s way, culminating in a larger volative move, with suitable futures demand to help the scenario coming to fruition.