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While Bitcoin is struggling to stay above the $50,000 price level, its fundamentals are presenting a different picture. Hashrate, a leading indicator of the overall health of the Bitcoin network, saw a strong recov
ery in the past six months.
From the lows of May 2021, the BTC hashrate has recovered by over 93%. The number reached 172 Exahash/s today, in touching distance with the all-time high of 180 Exahash/s. "Bitcoin hashrate has almost completely recovered, sitting only 4% below the ATH (7-day moving average basis). Network hashrate fell by over 50% in May following China's ban on BTC mining. Hashrate has since climbed by 93% from the lows, hitting 172 Exahash/s today," Glassnode noted
Witg the China ban on the cryoto the bitcoin cryoto and its hash rate went down but now its recoveringsince the move of the miners to us and europe regions
Now the country has made strict regulations and miners moving to us have free electric supply so prices and hash rates both improving
ery in the past six months.
From the lows of May 2021, the BTC hashrate has recovered by over 93%. The number reached 172 Exahash/s today, in touching distance with the all-time high of 180 Exahash/s. "Bitcoin hashrate has almost completely recovered, sitting only 4% below the ATH (7-day moving average basis). Network hashrate fell by over 50% in May following China's ban on BTC mining. Hashrate has since climbed by 93% from the lows, hitting 172 Exahash/s today," Glassnode noted
Witg the China ban on the cryoto the bitcoin cryoto and its hash rate went down but now its recoveringsince the move of the miners to us and europe regions
Now the country has made strict regulations and miners moving to us have free electric supply so prices and hash rates both improving
