• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews
Bitcoinist.com
No Result
View All Result
bitcoin mining hash rate ATH
Nexo

Bitcoin Hashrate Hits Record 8,350,000 TH/s While Price Trades Sideways

Anja van Oosterhout by Anja van Oosterhout
3 years ago
in Bitcoin News, Bitcoin, Bitcoin Price, News, News teaser
0
Advertisement

Bitcoin’s blockchain produced new historic records this week as the cryptocurrency’s technical health increasingly contradicts its lower price. 


Bitcoin Hashrate Hits 83 Quintillion

As data from monitoring resource and wallet provider Blockchain.com confirms, it was Bitcoin’s [coin_price] hashrate leading the charge, hitting 83.5 quintillion hashes per second on August 29.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

That number is BTC’s best achievement in its ten-year history, and the first time hashrate has surpassed 80 quintillion hashes per second.

 

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Hashrate refers to the amount of computing power servicing the Bitcoin network. The more hashes per second involved, the more power miners are devoting to processing and validating transactions.

A higher network hashrate also means better security and often better decentralization of mining power across more users.

What is the best crypto casino in July 2022? Read our comprehensive comparison! We made deposits, played and reviewed 80+ crypto casinos to choose the best one.

The metric has hit record levels continually in recent months, and the implied benefits make it a cause for celebration among BTC proponents.

On Friday, it was RT host and serial Bitcoin ‘permabull’ Max Keiser who took heart from the statistics, even as BTC/USD dropped 8% in a sudden loss of support.

Keiser additionally noted Bitcoin’s high share of the overall cryptocurrency market cap. That number hit 70% this week, according to some measures, its highest since March 2017.

“New (all-time high) for (Bitcoin) hashrate as alts die and players position themselves strategically ahead of BTC’s move back to 85% dominance,” Keiser summarized on Twitter.

BTC Booms At Altcoins’ Expense

As Bitcoinist noted, altcoins have indeed suffered as a result of Bitcoin’s rise. For Keiser, the future is also bleak – he claimed Bitcoin Cash and Bitcoin SV are “particularly vulnerable” to further loss of value.

Ethereum, meanwhile, is set for a halving – not of the block reward, but of price.

“ETH heading back to $90,” he finished, repeated a warning from earlier in the week about the largest altcoin.

Bitcoin’s price meanwhile has failed to match the strength of its network fundamentals. While not unprecedented, the schism nonetheless gives analysts cause for concern, with several advising traders to take precautionary measures with their holdings.

“I’m long BTC,” popular day trader FilbFilb told Twitter followers as Bitcoin hit $9600. Despite being up from local lows of $9350, this was not enough to restore sentiment.

“Live by the sword, die by the sword,” he added.

Earlier, Bitcoinist noted a theory that margin trading was responsible for sudden turbulence on Bitcoin markets. BTC/USD losing $500 in minutes is just the latest example of the phenomenon, which intersperses periods of sideways price action.


What do you think about BTC’s network performance versus price? Let us know in the comments below!


Images via Shutterstock

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Anja van Oosterhout

Anja van Oosterhout

Related Posts

Bitcoin

Bitcoin Will Beat Gold As Store Of Value, MicroStrategy CEO Says

3 hours ago
Crypto Corner: The Sports Slice

Crypto Corner: The Sports Slice

12 hours ago
Bitcoin Miners Continue Distribution, Bad Sign For The Rally?

Bitcoin Miners Continue Distribution, Bad Sign For The Rally?

17 hours ago
UNCTAD, document heading

UNCTAD Wants To Curb Crypto Adoption In Developing Countries. Of Course They Do

3 days ago
Bitcoin Crypto

Crypto Market Sees $510M Futures Flush As Bitcoin Breaks $24.5k

4 days ago
bitcoin family

“Bitcoin Family” Loses $1 Million In Bear Market, What’s Next For Them?

4 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.