RATE Group | Why Bitcoin’s Hash Rate High Suggests Price Explosion On Horizon
74270
post-template-default,single,single-post,postid-74270,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Why Bitcoin’s Hash Rate High Suggests Price Explosion On Horizon

02 Jan Why Bitcoin’s Hash Rate High Suggests Price Explosion On Horizon

Posted at 12:11h in Bitcoin News by

[ad_1]

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.

Related Reading: Why Bitcoin Network’s Record 2019 Is Bullish For the Crypto Market

Bitcoin’s Hash Rate Rockets Higher

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.

This surge in the hash rate breaks the previous all-time high set more than two months ago in October, meaning that Bitcoin’s…

[ad_2]

Source link

Tags:
, , , , , , ,