Bitcoin hashrate to set new ATH soon

The computing power and hash rate of transactions on the bitcoin network have grown by 80% after the mining ban in China. As experts say, this is not the limit. In the near future, a new impressive growth and the establishment of an all-time high (ATH) are possible.

Bitcoin has stood the test of 2021. It has demonstrated resiliency and resilience in the face of a drop in hash rates in May-June this year. Recall that after the ban on cryptocurrencies and mining in China, the computing power in the bitcoin network fell to 84.79 EH / s.

Over the past 5 months, the hash rate has recovered. At the time of this writing, it is at 156.6 EH / s. If the hashing power increases by 16%, a new maximum will be set. This will most likely happen in early December. Analysts at Kraken Intelligence say this.

The hashrate growth began when miners migrated en masse from China, transporting equipment to jurisdictions more favorable to mining. Many went to the USA, Russia and Kazakhstan. Since July 2021, according to the experts' report, there have been 9 consecutive waves of hash rate growth, thanks to which the mining difficulty has increased by 65.8%.

Hash rate growth is an important indicator. This is proof of the faith of miners in the future of cryptocurrency, an incentive to generate large incomes and ensure the stability of the blockchain. Therefore, as stated in the report of the analytics service of the crypto exchange Kraken, bitcoin has once again proved that it is in good hands.

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