Bitcoin (BTC) Bulls Are Coming Back As Hash Rate Achieves A New Milestone

Bitcoin (BTC) has not stopped showing that it is the king of crypto as well as the best cryptocurrency to invest in 2019. The recent price performance of Bitcoin (BTC) has been impressive. Bitcoin (BTC) recently embarked on a sharp, massive rally that saw its price over the $12k level. The price of Bitcoin (BTC) broke over the $12,500 mark before it started correcting lower. At the time of writing, the bulls are struggling to send the digital currency back over the $12,000 mark. While the price performance of Bitcoin (BTC) is impressive, the hash rate of the king of crypto just achieved a major milestone.

The Hash Rate of Bitcoin (BTC) Hits 80 Quintillion Hashes – Best Cryptocurrency to Invest In 2019 – Cryptocurrency News Today – Cryptocurrency Market Update

The computing hash power of Bitcoin (BTC) just exceeded 80EH/s for the very first time, according to data from Bitinfocharts. This new milestone that the networked just achieved means that the BTC network is more secure and it would be very difficult for hackers to hack the network. It would be very expensive and time-consuming for hackers to find their way into the network.

In addition, a massive upsurge in the hash rate is great for miners because it would be easier for them to solve the mathematical puzzle required to find the next block and get the reward for mining the block. Hence, the significant increase in the hash rate will greatly benefit miners and keep hackers away from the network. A lot of Bitcoin fans are excited about this achievement and the Bitcoin community on twitter has been talking about this great achievement. In a tweet, a Bitcoin buff that goes by the name hodlonaut said “another day, another hashrate all-time high. First time over 80 EH/s.

Bitcoin (BTC) Price Today – BTC / USD

Name Price
bitcoin
Bitcoin
$9,953.75-2.02%

So far this year, the enormous increase in the hash rate of Bitcoin (BTC) has been impressive. Bitcoin hash rate has outperformed the hash rate of other networks such as Bitcoin SV and Bitcoin Cash (BCH). The hash rate of Bitcoin Cash (BCH) is forty times behind that of Bitcoin. Whereas, the hash rate of Bitcoin SV is about eighty times behind the hash rate of Bitcoin (BTC).

Will the Price of Bitcoin (BTC) Also Hit a New All-Time High? – Bitcoin Price Prediction 2019 – Best Cryptocurrency to Invest in 2019 – Cryptocurrency Market Update

This significant upsurge in the hash rate of Bitcoin (BTC) would attract more Bitcoin miners to join the network. If this happens, there would be a pump in the price of Bitcoin (BTC). Bitcoin (BTC) recently surged over the $12k mark and plunged when the bulls weakened out. However, with this bullish, the price of the digital currency is likely to break over that level in the short-term.

Josh Rager recently said that he was not worried when the price of Bitcoin (BTC) plunged to the $9k area. In a tweet, he said:

“The price of Bitcoin (BTC) is now sitting at weekly support on higher time frames. As long as the price holds over the $11k level, I am not really concerned about revisiting the $9k level again or lower. it is far riskier being bearish at this point in time. Take it day by day and week by week.”

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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