Bitcoin Hash Rate Continues To Grow After 50% Decrease in December 2018

2019-2-9 21:42

Bitcoin (BTC) Hash rate has reached a new 3-month high after falling 50% from August 2018 to December 2019. According to data provided by Blockchain.com Bitcoin’s hash rate reached 47 million TH/s. The last time that the network reached the same hash rate was back in November 2018 when Bitcoin dropped under $6,000 during the Bitcoin Cash (BCH) hash war.

When the price of the most popular virtual currency dropped down to $3,250 for the first time in more than a year, the network difficulty has also dropped substantially. At that time, several miners left the market due to the fact that they were not profitable anymore with Bitcoin prices so down.

Once the difficulty was adjusted downwards, new miners entered the space to start mining Bitcoin again. In general, if the hash rate grows, this could mean that users are bullish about the future of Bitcoin and its price. According to Max Keiser, a Wall Street veteran, price follows hash rate.

Price follows hashrate and hashrate chart continues its 9 yr bull market. #Bitcoin pic.twitter.com/Rh49V9gaJw

— Max Keiser, tweet poet. (@maxkeiser) August 8, 2018

At the same time, Jameson Lopp, the CTO of Casa, mentioned that the hash rate follows price at some point. He went on saying that miners are also speculators.

It is also worth mentioning that Bitmain, one of the largest mining companies in the cryptocurrency market is losing part of the market share. Back in 2018, Bitmain had around 40 percent of the network’s computing power. Nevertheless, they currently have 30 percent of the network’s hash rate.

This shows that Bitmain is not in a good situation. Back in November 2018, Bitmain started a hash war to support Bitcoin Cash’s ABC proposal against the Bitcoin SV (BSV) hard fork. This has affected not only Bitcoin Cash but also the whole crypto market. Earlier in December, the cryptocurrency market dropped to the lowest price in more than a year.

Bitmain has also been closing offices in different countries such as Israel or the Netherlands. It is not clear why Bitmain is taking such a decision. The company has also changed its CEO a few months ago, showing that there might be some changes in the whole firm as well.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 97633.93 (+0.55%)
Объем 24H $99.061b
Изменеия 24h: 3.64 %, 7d: 9.39 %
Cегодня L: $94006.77 - H: $98156.69
Капитализация $1932.282b Rank 1
Цена в час новости $ 3669.8 (2560.47%)

bitcoin rate hash reached 2018 december network

Источник: bitcoinexchangeguide.com

bitcoin rate → Результатов: 126


Is Bitcoin’s Rally Over? Leverage Drops As Halving Highs Fade: Report

Recent trends in the crypto market have indicated a notable shift in trader behavior, particularly among those investing in Bitcoin. Using data from CryptoQuant, Bloomberg has revealed that the Bitcoin funding rate—the cost for traders to open long positions in Bitcoin’s perpetual futures—has turned negative for the first time since October 2023.

2024-4-25 19:00


What is the Bitcoin hash rate? And why is at all-time highs?

Key Takeaways The Bitcoin hash rate is the amount of computing power contributed towards mining It has continued to take new all-time highs This squeezes miners’ profitability, at a time when electricity costs have risen and the Bitcoin price has fallen Overall, a high hash rate implies a healthy and more secure Bitcoin network   […] The post What is the Bitcoin hash rate? And why is at all-time highs? appeared first on CoinJournal.

2023-1-27 13:33


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Maker whale activity surges by 1400% - Time for MKR's price to break out?

Large transaction volumes for Maker rose by over 1,400% in just two days  Despite rising whale activity, technical indicators and on-chain metrics flashed mixed signals for MKR  Maker (MKRThe post Maker whale activity surges by 1400% - Time for MKR's price to break out? appeared first on AMBCrypto.

Is Ethereum set to outperform Bitcoin? Key data suggests...

Analysts predicted that Ethereum could outperform Bitcoin due to key indicators. Ethereum spot ETF inflows and ascending price channels indicated potential price targets up to $10,000. EtherThe post Is Ethereum set to outperform Bitcoin? Key data suggests... appeared first on AMBCrypto.

QNT's latest breakout can push altcoin's price to THIS level...

QNT's breakout from its descending trendline and bullish indicators signaled potential gains to $229 On-chain metrics and declining exchange reserves highlighted growing demand and reduced sellThe post QNT's latest breakout can push altcoin's price to THIS level... appeared first on AMBCrypto.

XRP's $1 at risk? As trading volume drops 77%, concerns rise

XRP's $1 milestone seemed uncertain, as daily active addresses declined significantly. Ripple's trading volume dropped from almost $3 billion to around $207 million. After months of consolidThe post XRP's $1 at risk? As trading volume drops 77%, concerns rise appeared first on AMBCrypto.

NEAR rallies 12% in 7 days: Is $8 on the cards?

NEAR traded at $5.79 at press time, gaining 12% in seven days with $712M daily trading volume and $7B market cap. Futures Open Interest dropped 5% while TVL hit $260M, signaling steady ecosysteThe post NEAR rallies 12% in 7 days: Is $8 on the cards? appeared first on AMBCrypto.

TRON's USDT dominance - Here's what that means for TRX's price

TRX recorded gains of over 26.17% in the last 30 days TRON's USDT weekly volume surpassed 150 billion - A sign of strong adoption TRON, at the time of writing, was valued at $0.1986 with a mThe post TRON's USDT dominance - Here's what that means for TRX's price appeared first on AMBCrypto.

CVX crypto soars 20% in 24 hours - Is $5 the next target?

CVX crypto pumped 83% on the 19th of November; will the uptrend continue?  A notable whale could have triggered the wild upswing, per an analytics firm.  Convex Finance’s native token, CThe post CVX crypto soars 20% in 24 hours - Is $5 the next target? appeared first on AMBCrypto.