Cryptocurrency

Record high of 100,000,000 TH/s in the range

Bitcoin is approaching a further milestone and a high is chasing a new record: the speech of the Hashrate. Because the Bitcoin hash rate, the increase since the beginning of the year continuously, and new all-time highs reached, is now on the brink of the ‘magical’ 100.000.000 TH/s mark. In order for Bitcoin cemented his claim to be the safest, most robust and resilient network. To put it differently: Bitcoin gets ready for the future!It is Once again Monday and thus, the start of a new weeks. If you want to see the most Important of the last week, again in a nutshell, then review for KW 36 is our week just Right!

Bitcoin hash rate to a record high

As a basis we take the publicly-accessible data from blockchain.com. The graphics, which you also can see, clearly shows that the Bitcoin increase Hashrate since the beginning of the year.The current Hashrate is 94.000.000 TH/s. This corresponds to a computing power of 94 Exa-Hash per second. In other words: the Bitcoin network is able to calculate 94 trillion Hashes per second.You can already see that the beginning of the year was the turning point for the Hashrate. While growth in the months of January went ahead to April, slowly but steadily, especially in the last 6 months is a huge progress. Doubled the Hashrate of the Bitcoin network in the period from April up to the present day!If the Bitcoin Hashrate is growing with the current pace continues, we can see in the next few days, a three-digit value. A Hashrate of more than 100 Exa-Hash would be an absolute novelty in the history of Bitcoin, and would cement his claim to leadership.Because of the Hashrate, as an expression of the entire computing power of the network, is also a measure for the security of the network. Simply put: the higher the Hashrate of the network is, the stronger and more secure the Bitcoin Blockchain.

Max Keiser: Bitcoin price follows Bitcoin Hashrate

Such an Explosion of the Bitcoin Hashrate is not, of course, remains unnoticed for a long time. And so, there are some analysts and traders, comment on current Events and evaluate – for example, Max Keiser.Keiser is of the view that the price of Bitcoin automatically follows an increase in the Hashrate. The Hashrate is increasing so also the Bitcoin price will rise over time and the increased computational power of the network to adapt. His reasoning is that miners are always in need of an economic incentive for its activity. An increase of the hash rate also leads to an adjustment of the Difficulty, so that the probability for a Miner, the have carried out no Hardware Upgrade will lower a Block. Therefore, the lower hit has to be compensated in probability due to a higher Bitcoin price.

The Hashrate record leads up to a new all-time high at the Bitcoin exchange rate?

And now if you look at the history of the Hashrate, and the history of the Bitcoin price, so you can see some Parallels. Because, as the above Chart shows, highlighted in the January of this year, the turning point for the Hashrate. In Parallel, the Bitcoin exchange rate has its turning point in January. Only a few months later, in April, began both the Hashrate and the Bitcoin to explode in price.Keiser is now going further a step further and says that the increase in hash rate to a risk for Fiat could be currencies. Because large data centers could spend on the taste of your computing power for Bitcoin get Mining. In his Tweet, he said specifically:

If Keiser is correct in his forecast, therefore, that the Bitcoin exchange rate follows a rise in the Bitcoin Hashrate, then we could achieve in the next few weeks and months of new record highs during the Bitcoin exchange rate.75 % of private CFD accounts lose money. No EU investor protection.A new record high for the Bitcoin network. The Bitcoin price? Come in to our Telegram Chat and talk with the experts and the Community. Subscribe to our News channel to not miss any News. (Image Source: Shutterstock)

About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.