RATE Group | Bitcoin (BTC) Hashrate Back to Record, Price Remains Uncertain
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Bitcoin (BTC) Hashrate Back to Record, Price Remains Uncertain

02 Oct Bitcoin (BTC) Hashrate Back to Record, Price Remains Uncertain

Posted at 20:28h in Bitcoin News by

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As October arrives and BTC is stuck around the $6,500 levels, there is no clear indicator of the direction of the asset, except for mining.

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Bitcoin (BTC) is now watched by everyone aiming to fulfill the expectations of a renewed upward run starting in October. The asset is stuck in the middle, not giving grounds for clear predictions. BTC prices hover around the $6,500 range, with analysts seeing options for both a continued progress or a sinking back to $3,000 or even in the extreme, $1,000.

There is one bullish indicator – the hashrate of Bitcoin, which has expanded to 57 EH/s, repeating the record from the end of August. The levels of $6,500 and even as low as $6,000 are seen as viable for many mining farms. However, it is difficult to estimate which farms are going online, and whether the growth of mining would continue.

Bitmain, the chief seller of mining rigs, has seen lowered sales during the bear market, coinciding with the months-long slide in Bitcoin prices. The next…

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