New Hash Levels Are Increasing, Will BTC Prices Fly High?

By Chou Tzuyu | Tuyul Mania | 21 Aug 2019


Another record has been broken by the Bitcoin hash rate and even reached new record highs of all time.

According to data from the monitoring resource blockchian.com on August 19, the top coin hash level continued to break previous records throughout the summer and today reaches 82.5 TH / s.

In a tweet posted earlier this month, host and popular bitcoin investor Max Keizer repeated his views on the future of BTC, saying:

"Prices are following the hashrate and the hashrate chart continues the 9-year bullish market."

The argument is that the higher the bitcoin hash level, the safer the network is, the higher the investor's confidence, driving further demand. Keizer makes this argument when prices are pursuing network fundamentals.

Also read: 6 Free Bitcoin Mining Sites Without Deposit 2019

"The hash level of cryptocurrency - sometimes referred to as hashing or computing power - is a parameter that gives a measure of the number of calculations that can be performed by a given network every second. A higher hash level means greater competition among miners to validate the new block; it also increases the amount of resources needed to carry out attacks 51%, making the network safer. "

However, a string of new notes posted throughout the summer is a sign of an increase. By analysis of the traders who are connected by signs because of the strength of the network, as is.

Before we go any further, it's good to say that we are not financial investors and this is not financial advice. Please do your own research before putting your money into cryptocurrency and always remember to trade safely!

Future

A reduction in half of Bitcoin or halving is less than a year away and will occur in May next year. This event can have both bullish implications for coin prices but its impact on miners is seen to worsen.



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