Bitcoin Kicks Off 2020 By Setting New Record For Hash Rate

Bitcoin (BTC) has already hit a brand new report in 2020 because the cryptocurrency’s community hash fee as soon as once more topped earlier all-time highs.
Information from a number of monitoring assets together with Blockchain and Coin Dance confirmed hash fee was increased than ever on the primary day of the brand new 12 months.
A measure of the computing energy dedicated to validating the Bitcoin blockchain, hash fee spent a lot of 2019 in a steady progress cycle. Just for a short interval in Q3 did the upward pattern stage off.

Robust hash fee suggests Bitcoin is a extra interesting proposition for miners — extra mining energy interprets into higher community safety and robustness towards potential assaults.

In line with Blockchain, the metric hit 119 quintillion hashes per second (h/s) on Jan. 1.

In September, what seemed to be an in a single day 40% drop in hash fee was subsequently attributed to the way in which it’s calculated.
The current information have additional come impartial of Bitcoin value motion. BTC/USD fluctuated between $3,100 and $13,800 final 12 months, however the hash fee pattern endured.
Commentators, together with Keiser Report host Max Keiser, have additionally claimed that hash fee highs will in the end produce new Bitcoin value highs.

At press time, the pair traded at simply above $7,100, down round 3% over the three days masking the hash fee report.

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