Home / Cryptocurrency / Max Keiser: New Bitcoin Network Hash Rate High Suggests Price Is Next

Max Keiser: New Bitcoin Network Hash Rate High Suggests Price Is Next

The Bitcoin (BTC) hash fee has damaged but any other new all-time prime, consistent with Aug. 19 knowledge from tracking useful resource Blockchain.com.

The highest coin’s hash fee has persisted to damage earlier data all through summer season, as of late hitting an whopping 82.five TH/s.

Bitcoin network hash rate, 1-year chart

Bitcoin community hash fee, 1-year chart. Supply: blockchain.com

Community Basics

The hash fee of a cryptocurrency — from time to time known as hashing or computing energy — is a parameter that provides the measure of the collection of calculations given community can carry out every 2nd. The next hash charges building up the contest amongst miners to validate new blocks; it additionally will increase the volume of assets wanted for appearing a 51% assault, making the community extra protected.

The string of recent data posted all through summer season is a bullish signal, with analysts and buyers alike buoyed by means of indicators of the power and robustness of the community.

Taking a look forward

Bitcoin’s halving — a pre-coded 50% aid of block rewards for miners— stays a while away: Would possibly 2020. 

Whilst the development could have bullish implications for a coin’s value (by means of expanding shortage), its have an effect on on miners is keenly watched, with some involved that decrease block rewards will deter community individuals and adversely have an effect on the community’s hashing energy.

This summer season, Litecoin (LTC) writer Charlie Lee — who had forecast a post-halving surprise to the coin’s mining ecosystem — had his expectancies overturned when the community’s post-event hash fee was once published to be simply as tough as ever.

In a tweet posted previous this month, Bitcoin investor Max Keiser argued that:

“Worth follows hashrate and hashrate chart continues its nine year bull marketplace.”

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