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.
Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity
Did you like the news you just read? Please leave a feedback to help us serve you better
Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.
A New Era for Global Trade: Alibaba Taps JPMorgan's Blockchain Global commerce has long been…
The Promise of Web3 Meets a Centralized Reality Web3 was built on a revolutionary promise:…
Bitcoin's Sudden Plunge Shakes the Crypto Market The cryptocurrency market is awash in red after…
Macro guru and Real Vision CEO Raoul Pal shone the spotlight on a rising layer-1…
As the technology landscape transforms at lightning speed, AI Companions has positioned itself as a…
Did you know that 85% of DeFi value is concentrated in six blockchains? DeFi is…