Recent data confirms that the hashrate of the Bitcoin network has been growing steadily in 2018, despite the transaction volume and price decline of Bitcoin this year. The term refers to the total computing power of the Bitcoin network.
This information means that, even if the prices of Bitcoin are falling, there are more people deciding to invest in it. The hashrate has already gained 15% in June only.
Max Keiser States Bitcoin Prices Will Soon Follow The Hashrate
The Wall Street trader and journalist Max Keiser has recently announced on Twitter that the price of the token would follow the hashrate, meaning that there is a chance that the Bitcoin price might spike again. This has, in fact, been Keiser’ mantra ever since Bitcoin was only worth $3 USD.
Not only the hash rates, but transaction fees and mempool size have also improved since last year, especially because of the popularity of the Segregated Witness (SegWit) support. During May, SegWit’s presence reached just under 40% of all the Bitcoin transactions that were made.
Will the Bitcoin price grow until the end of the year? That is what the experts tend to believe but only time will tell for sure if this will happen.