Bitcoin (BTC) Hash Rate reaches new all-time high Despite Price Drop
Last week Bitcoin’s hash rate dropped significantly (close to 20%), which also triggered a massive price drop in the price Bitcoin. But just a few days after, Bitcoin’s (BTC) hash rate has reached a new all-time high.
According to Bitinfocharts, a popular Bitcoin Charting website, Bitcoin hash rate reached 95 Eh/s on 22nd September 2019 but crashed to 79 EH/s by 24th September 2019. The crash coincidently occurred during the Bitcoin price crash.
But the hash rate of Bitcoin soon recovered with Bitcoin hash rate reaching an all-time high on 26th September 2019. The hash rate read on 26th September was 101.9 EH/s. The hash rate has fallen since then and the current hash rate stands at 96 EH/s.
Hashrate although isn’t a proper indicator to figure out the health of a network. It’s important to note that the actual hash rate of the bitcoin network cannot be determined, and the hash rates provided are more or less estimates.
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