Bitcoin hash rate, the computing power securing the network, has reached levels not seen since early November 2018.
Bitcoin Hash Rate May Have ‘Bottomed’
March 19th saw the Bitcoin hash rate surge past 52 quintillion hashes per second according to data from Blockchain.com.
The hash rate measures the performance of bitcoin miners who secure the network. Simply put, the higher the hash rate, the more resources it requires to successfully attack Bitcoin.
The rise in hash rate also translates into new miners joining the network. With the mining difficulty remaining relatively flat for over a month now, new miners have found it easier to bring their rigs online.
Though with the hash power now climbing, the difficulty, a counterblancing feature, will likely increase in the coming days.
Market Optimism Making a Comeback?
The latest uptick may prove to be significant as this means that the downward trend in hash rate may now be definitevly broken along with the previous spike of 50,000,000 TH/s seen in early February.