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Bitcoin hash rate returns to all-time high levels
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The global hash rate of the Bitcoin network tanked to as low as 84 exahashes per second (EH/s) at the start of June following the Chinese government’s crackdown on the crypto mining sector.
According to Blockchain.com, the global hash rate has increased by 108% since June, with the Bitcoin network performing at a rolling seven-day average of 175 EH/s as of Wednesday.
The figure is roughly 3% shy of peak levels of 180 EH/s seen at the height of the previous bull cycle in May. It is a commonly held belief that the trends in hash rate correspond with the price of Bitcoin (BTC), suggesting that there may be some positive price action on the horizon despite the overall gloomy sentiments in the market at the moment.
The actuality of the global
Read more on cointelegraph.comAbout this in other media
Asian Sellers Weighing on Bitcoin Price, But Possibly Not for Much Longer cryptonews.com /2 years ago
Beijing court rejects monetary compensation in Bitcoin mining contract plea cointelegraph.com /2 years ago
Data suggests traders view $46,000 as Bitcoin’s final line in the sand cointelegraph.com /2 years ago
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