The power of the Bitcoin (BTC) network has continued to increase in the past week as the so-called hash rate of the blockchain has increased another 25%.
Hashrate at a new record high
As the data from Blockchain.com show, bitcoin’s hashrate on September 3 last hit 87 trillion hashes per second (h / s).
Already in the past months the hashrate reached a new record almost daily, whereupon at the beginning of August the mark of 80 trillion h / s could be cracked for the first time.
The hashrate is a measure of the available computing power of the Bitcoin network, the higher the value, the higher the available computing power. Also, having a high hashrate means that it becomes more difficult to attack the network, as the load spreads across many shoulders, which in turn increases security.
Furthermore, can be read on the Hashrate that the crypto-miners invest more and more computing power to “mine” Bitcoin, which suggests that they must be convinced of an increase in value of the market-leading crypto-currency, otherwise the increased effort would not be worthwhile.
Course is similar to Hashrate
As a result, Bitcoin miners will be very active again in 2019, following a moderation in the previous year. The renewed enthusiasm is most likely one of the reasons that Bitcoin has rallied since April 1st.
Some experts assume that the hashrate will continue to rise in the near future, which could also have a positive effect on the further development of the share price.
Blockstream CEO Samson Mow predicted on Monday that the race for the remaining 3 million bitcoins would have started, which should continue to drive up the hashrates.
The analyst Max Keizer meanwhile refers to the relationship between Hashrate and price performance, where he is convinced that the course of the course in each case of the development of the Hashrate equalizes. The upcoming Brexit he sees as an additional factor that could drive the Bitcoin price soon again.
At the beginning of the week, Bitcoin suddenly stopped his free fall and has since climbed 10%.