Cryptocurrency
Why Bitcoin’s Hash Rate High Suggests Price Explosion On Horizon
As reported by NewsBTC, “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 […]
As reported by NewsBTC, “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.
“This surge in the hash rate breaks the previous all-time high set more than two months ago in October, meaning that Bitcoin’s network is now stronger than ever before, marking an amazing start to 2020…”