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Bitcoin (BTC) Hash Rate Nears All-Time High, BTC Hovers Around $20k
Despite suffering a drop in price leading to a significant drop in miners’ revenue, the hash rate of Bitcoin (BTC) has been on a steady climb over the last two months and now sits close to its all-time high (ATH).
Data published by Blockchain.com shows that the Bitcoin hash rate is at 225 Exahash, very close to the ATH of 231 Exahash recorded in June this year.
The rise in Bitcoin’s hash rate followed a 9% drop in the price of Bitcoin. After falling as low as $19,600, Bitcoin has managed to stabilize above the $20k support zone, which analysts see as a positive sign going into September. Bitcoin now trades at $20,050, dropping by 1.6% from an interday high of $20,390.
The 24 hours price chart for Bitcoin (BTC). Source: CoinMarketCap
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