RATE Group | The Bitcoin Hash Rate Could Be Behind Its Recent Spikes
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The Bitcoin Hash Rate Could Be Behind Its Recent Spikes

11 Jan The Bitcoin Hash Rate Could Be Behind Its Recent Spikes

Posted at 17:44h in Bitcoin News by

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As we all know, bitcoin has spent the last few days gaining steam and jumping into higher ranges. While we’ve been quick to assume it has something to do with the political unrest due to tension between the U.S. and Iran, another source is claiming something different.

The Bitcoin Hash Rate May Have Something To Do with This

Bitcoin first began jumping upward on January 3 following a U.S. drone strike on Iran that killed off one of the latter country’s top generals. From there, bitcoin – which had been traversing through the high $6,000 range over the past day, suddenly jumped beyond the $7,000 mark. It has been on something of a roller coaster ever since, spiking by anywhere between $100 and a few hundred dollars each day until early yesterday morning when it fell back into the $7,000 range.

We’ve always assumed that relations between the U.S. and Iran had something to do with bitcoin’s spike, but according to some analysts, the hash rate may be behind the currency’s…

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