Bitcoin's hash rate broke a new record

Bitcoin miners (BTC) have created new all-time highs for the computing power they are willing to spend on verifying transactions.

Overview of the daily cryptocurrency market. Source: Coin360
Overview of the daily cryptocurrency market. Source: Coin360

Pomp: Hash rate shows that BTC “doesn't care about anything”.

According to data from monitoring resources Coin Dance On March 5, the Bitcoin network's hash rate surpassed 150 million TH / s for the first time.

Just a few days after the previous record, the hashrate continued to rise. Today, this figure reaches 157 million TH / s – the highest level in history.

Hash rate is the key to ensuring the security of Bitcoin network, and also acts as a sign of profitability for miners who confirm transactions on blockchain. In recent times, Bitcoin has shown consistency in this regard, regardless of whether its price goes up or down.

Bitcoin hash rate chart for 15 months. Source: Coin Dance
Bitcoin hash rate chart for 15 months. Source: Coin Dance

Although BTC prices fell 12% last week, the miners seemed completely unconcerned, something that some industry commentators quickly celebrated.

“This happened in the context of a potential pandemic, absolute chaos in public markets, and helicopter money distributed in Hong Kong,” said Anthony Pompliano – Co-Founder of Morgan Creek Digital (or also known as Pomp), already tweet after hashrate reached 136 million TH / s.

“Bitcoin is not interested in anything other than doing what it is set to do.”

Hash rate is the best estimate, and significant up or down moves should not be considered an accurate sign of miner participation.

Setting the scene for price (again)

Meanwhile, channel owner RT Max Keiser has previously emphasized that prices often tend to mimic the move of hash rates.

The fall back below $ 9,000 did not dissuade Bitcoin supporters. Among them is the famous statistician Willy Woo – who this week has set a target of 135,000 USD for BTC price.

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Set to appear at some point in the current bull run, Woo described such a price as “a normal prediction.”

1-day chart of Bitcoin price. Source: Coin360
1-day chart of Bitcoin price. Source: Coin360

The BTC / USD pair returned to the $ 9,000 area on Thursday after a week of trading at lower levels. Total profit for the day reached 3.2% at the time of writing.

Readers can update BTC rates and more than 2,000+ cryptocurrencies in real time here.

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According to CoinTelegraph
Translated by ToiYeuBitcoin

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