Meanwhile, the Bitcoin price has exceeded $ 7,000. Also the hash rate showed big gains and has increased by 50% this month. Of these, only 35% account for just two days.
The Bitcoin hash rate has been rising steadily, but this time there has been a big increase. Thus, the computing power of the Bitcoin network has exceeded the mark of 60 trillion hashes per second. This reached a new high.
In June, the hash rate was still in the range of 43 trillion. July saw the network exceed the mark of 50 trillion. In August, we saw a 50% increase.
Since December of last year, when Bitcoin reached its all-time high, the hash rate curve has moved up. Since then Bitcoin has lost about 60% of its value. Other Altcoins have even fallen by 90%. The hash rate, however, was unimpressed and has continued to increase. In fact, it has peaked over 150% in recent months.
The increase over the last two days is particularly amazing. During this time, the Bitcoin hash rate has increased by 35% alone.
Experts see satisfied Bitcoin investors and new all-time highs
This increase in hash rate may be on it due to new miners coming onto the market. These are evidently unimpressed by the cryptocurrency's low price.
In the beginning, when Bitcoin was new, there was a link between the hash rate and the course of Bitcoin. However, this connection has been cut since that time. Nevertheless, experts continue to see connections.
These experts include financial analyst Max Keizer. He used to be a trader on Wall Street and has specialized in cryptocurrency today. According to Keizer, the price follows the hash rate. Keizer is therefore confident that a new all-time high is imminent. This Keizer explained in a tweet.
Based on my HR analysis, new ATH incoming. $ 28,000 still in play. pic.twitter.com/hYgPti1cqn
– Max Keizer (@maxkeiser) August 28, 2018
Next, Keizer made reference to one of his other tweets and reiterated that $ 28,000 is still possible.
Similarly, David Sapper, the CEO of the Australian crypto-market Blockbid, recently made similar comments. In an interview with Bloomberg, he said that the continued increase in the hash rate shows the long-term interest of investors in Bitcoin. Likewise, it reflects the satisfaction with the cryptocurrency. So Sapper said:
“The increased hash rate shows that people are here in the long term and are happy to accumulate what they have, possibly even at a loss. On the other hand, they sometimes do their housecleaning and then throw them out. “
Sources: Twitter, Bloomberg, Pixabay
Author: Peter Joost – Source Post: https://www.kryptovergleich.org/bitcoin-hashrate-exploded-to-about-50-expert-sight-news-alltime-high-fuer-bitcoin-course/
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