Bitcoin hash rate hits ATH, now 8x higher than $20,000 price top

posted 3 months ago
Bitcoin’s hash rate — the measure of computational power processing BTC transactions — hit a new all-time high on the 1st day of 2020. The all-time high, 119 exahashes per second, or 119 with 18 zeroes after it. Bitcoin’s network is now stronger than ever before, marking a historical start to 2020.

The uptick in hash rate is said to be bullish and confirm “miner capitulation,” which is said to be when miners sell their BTC en-masse to keep their operations afloat, and that this sell off has ended and recovery has started. These instances of miner capitulation, are said to have only taken place 10 times before in BTC’s history, preceding uptrends of thousands of percent.
Tags: opinion, news, blockchain, bitcoin