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    Bitcoin’s Hash Rate Hits A fresh All Time High Signifying A Strong Network Before Halving

    Bitcoin hash rate has hit a fresh all-time high (ATH) which shows that the king crypto has continued to gain on its technical ability.

    Fresh data from BitInforCharts shows that the total hashes have jumped to 126Eh/s. This shows that the Bitcoin network has been in a meteoric rise in the last two years as the rate was only 13Eh/s when Bitcoin hit its all-time high price in Dec. 2017. The new figure indicates 126 quintillion tried solutions for every second.

    Bitcoin-BTC-Hashrate-all-time-high
    Source: BitInfoCharts

    The high hash rate illustrates that Bitcoin is currently the strongest and most secure computing network in the blockchain and crypto industry. Currently, it is impossible to perform a 51% attack on BTC as anyone trying wouldn't be able to withstand such a level of hash power.

    The high hash rate shows that there is high miner confidence as there are more miners within the network than ever before. It also shows that miners are more cautious of the incoming BTC halving that will occur in May.

    Hash rate can be described as the total amount of processing power that is required for validation in a network. A high hash rate means that it is now more difficult to mine Bitcoin than before. This means that only the miners with superb mining devices and can access chap electricity can afford to remain profitable. Since the start of this year, mining difficulty within the Bitcoin network has increased by 13%.

    With the impending halving that will take place in May where miners will get half the reward for finishing a block (6.25 BTC), the ideal expectation is that there will be a mass exodus of miners to other cryptos. However, the recent trend of higher hash rates shows that there are more miners coming to the Bitcoin network.

    The miners are expecting that the halving will lead to a price surge and could be the reason they are trooping to the network for a share of the pie post-halving. The high hash rates are good for the pre-halving period.

    Bitcoin (BTC) Live Price

    1 BTC/USD =$9,728.4259 change ~ -0.91%

    Coin Market Cap

    $177.29 Billion

    24 Hour Volume

    $6.87 Billion

    24 Hour VWAP

    $9.68 K

    24 Hour Change

    $-89.0137

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    Joseph Kibe
    Joseph Kibe
    Joseph is a blockchain and cryptocurrency enthusiast, with a strong conviction that exposure of blockchain technology is for the good of the society. Fascinated by the massive potential of cryptocurrencies and the technology behind them – blockchain – Joseph spent lots of his time learning more about the industry, becoming a polished expert writer in the sector. He covers any cryptocurrency and blockchain related content.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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