RATE Group | Bitcoin Hash Rate 8x Higher Now Than At $20,000 Top; Why It’s Bullish
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Bitcoin Hash Rate 8x Higher Now Than At $20,000 Top; Why It’s Bullish

05 Jan Bitcoin Hash Rate 8x Higher Now Than At $20,000 Top; Why It’s Bullish

Posted at 03:36h in Cryptocurrency News by

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Bitcoin (BTC) hasn’t done too hot over the past few months, plunging some 50% since the June top of $14,000. The selling has stopped over the past few weeks, with the price of the leading cryptocurrency flatlining in the low-$7,000s, leading some to suggest that another leg lower is possible.

But it seems that the cryptocurrency and the ecosystem surrounding it want to start off 2020 with a bang.

As noted by digital asset manager Charles Edwards, Blockchain.com, a cryptocurrency information and wallet service, found that Bitcoin’s hash rate — the measure of computational power processing BTC transactions — hit a new all-time high on the 1st day of 2020. The all-time high, 119 exahashes per second, or 119 with 18 zeroes after it.

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