The bitcoin hash rate has increased by 40% in 2019, with the approach of ATH: what does it mean?

The price of Bitcoin has been gaining interest in recent weeks due to its rise. The asset hash rate has also increased, currently reaching unprecedented levels.

At press time, Blockchain.com data indicated a bitcoin hashing rate of about 48,003,251. However, on May 2, the number reached 58K. The latter means an increase of nearly 40% since 2019 and a gap of about 6% from the unprecedented high.

The hash rate is "the estimated number of hashes per second (billions of hashes per second) Bitcoin network," says the site.

According to the Blockchain.com chart, the Bitcoin hash rate peaked at 60,089,527 on 24 September 2018, before falling to 31,998,005 on 2 December of the same year.

A Crypto potato The January 2019 article explains that the hash rate is necessarily related to the number of players who extract bitcoin. A larger number of miners often leads to a higher hash rate.

"What many people in space have found is that the hash rate is directly correlated to the difficulty of the Bitcoin network, which is growing as more and more miners enter the network," he said. the point of sale. "The lowering of the hash rate also means that the profitability of mining is lower, which causes miners to close their mines or exploit other coins."

On the basis of the current high hash rates, it could be inferred that interest in the exploitation of bitcoins is increasing.

Correlation between bitcoin price and hash rate

The price of the BTC also seems to have perhaps been correlated with the hash rate and, consequently, with the mining interest. After the significant decline in the $ 6,000 area, it appears that miners have probably started to leave the network, as evidenced by the low hash rate of December 2018, although this speculation is complicated by the upward trend. bitcoin hash rate for most of 2018, while the price has dropped significantly throughout the year.

Several years ago, in an uncensored YouTube Bitcoin video, Chris Derose of the Counterparty Foundation explained that the hash rate could indicate the health of the network. Derose shared his thoughts on hash rates, revealing the network's interest. "It shows the enthusiasm of the network for investors in investment, at least to a certain extent," he said, apparently referring to people investing in the mining sector.

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