Bitcoin Hashrate Prints New All-Time High

News

By Alex Dovbnya

Tue, 6/04/2021 - 6:19

The Bitcoin network is stronger than ever, with hashrate reaching a new all-time high

Bitcoin Hashrate Prints New All-Time High

Cover image via stock.adobe.com

Read U.TODAY on

Google News

Bitcoin’s hashrate reached a new all-time high of 179.4 EH/s on Apr. 5, according to data provided by CryptoQuant.

This took place on the same day the cryptocurrency scored its second-highest daily close ever of $59,101 on the Bitstamp exchange.

You Might Also Like

Mon, 04/05/2021 - 18:51

"Rich Dad Poor Dad" Author Predicts That Bitcoin Could Hit $1.2 Million

ByAlex Dovbnya

Even though there is no direct correlation between price and hashrate, some pundits in the likes of journalist and Wall Street Max Keiser believe that the former tends to follow the latter.

CryptoQuant CEO Ki Young Ju claims that miners keep accumulating Bitcoin, and they don’t intend to cash out their holdings:

Network fundamentals are getting stronger, and those who make the network strong don't cash out Bitcoins to buy new mining rigs. They buy mining rigs with cash, not Bitcoin.

HOT Stories

Ripple CTO Emeritus Breaks Silence on XRP and XLM in Epstein Files

Crypto Market Review: Did XRP Downtrend End? Shiba Inu (SHIB) Taking a Beating, Bitcoin (BTC) Safe Above $80,000

U.Today Crypto Digest: XRP Millionaires Awaken, Shiba Inu Buyers Step In, Dogecoin Sees 10,782% Rise in Futures Volume

Scaramucci: ‘Get Ready’ as Bitcoin Firms Against Falling Gold