Editor's Picks News

Expert: a new maximum hashrate of the Bitcoin network hints that the maximum price is not far off

According to the monitoring resource of Blockchain.com, the hashrate of the Bitcoin network broke another record. During the summer, the bitcoin hash network continued to update records and currently reached a fantastic 82.5 TH / s. Experts are sure that these records promise a new maximum for the Bitcoin exchange rate.

A number of new hashrate records are a sign of future price increases, with analysts and traders alike seeing prospects for network stability and reliability.

We remind you that the bitcoin halving is scheduled for May 2020. This event may cause a rise in the price of the coin (increasing its deficit) and its effect on miners is closely monitored, while some are worried that a lower block reward will scare away some network participants and negatively affect the overall hash rate.

This summer, lightcoin creator Charlie Lee, who was afraid of the negative effect of the halving, admitted that he was mistaken, as it became clear that the hash rate of the lightcoin network remains as high as before.

In a tweet, Bitcoin investor Max Kaiser wrote: "The price follows the hash rate, and the hash rate chart shows that the bull market is just around the corner."


Related posts

After What Happened With Terra, Celsius Lockdowns Put The Market On Red Alert

Joseph Alalade

Bitcoin Rises 5% And Recovers 30K, the Rest of the Market Follows on the Rise

Joseph Alalade

BitJournal Fund: bench traders / startups and business