A month after crossing $ 40,000, the price of Bitcoin (BTC) has once again allowed itself to break through this crucial threshold. And the hashrate of the network is also at its highest …
Bitcoin’s hashrate (BTC) is at its highest
As CoinWarz data indicates, Bitcoin’s hashrate today has exceeded 180.24 Eh / s , an all-time high. It has been growing almost steadily for a year: on February 8, 2020, the average hashrate stood at 106.94 Eh / s:
The rise in the price of Bitcoin encourages more miners to participate in the network, which is why it has experienced this hashrate record. It should also be noted that transaction costs are higher in the middle of a bull run, which also encourages miners to work more.
The network’s mining difficulty has therefore also logically been increased, by + 2.93% on February 6. Currently, BTC.com estimates it will grow again in ten days, by + 4.27%.
Bitcoin revisits $ 40,000
All this represents a new way of e Bitcoin above $ 40 000 during the weekend. As a reminder, BTC hit an all-time high about a month ago, at nearly $ 42,000. The largest cryptocurrency has since caught its breath, but it is once again on the rise. This morning, the price of BTC is flirting with $ 40,000, after losing almost 9% immediately after this new jump:
This still corresponds to an increase of + 18% over the last seven days . Bitcoin’s market cap exceeded $ 727 billion this morning. If it manages to consolidate above $ 40,000, we will enter a new period of price discovery for the largest cryptocurrency.