Bitcoin (BTC) caught a new sign of recovery as the hashrate in Bitcoin returned to levels before Black Thursday in March. As of April 15, Bitcoin’s 7-day average hashrate has reached 114 kentillion hash (h / s) per second, according to data from a blockchain tracking source. The network had last seen this level on March 2. Although the average hashrate continued to rise after this date, it stopped at “Black Thursday” on March 13.
Hashrate refers to the processing power that miners spend to process Bitcoin transactions. The higher this rate makes the network more resistant to a malicious attack.
Will Be Epic
In reality, the hashrate represents an estimate, as the true structure of the decentralized network is impossible to pinpoint in exact terms. However, a strong hashrate rate made analysts speak with hope. RT server Max Keiser, for example, often argued that leaps in Bitcoin price tend to follow similar hashrate movements. On March 13, when the BTC / USD fell to about $ 3,700 on the stock exchanges, the hash rate fell below 100 kentillion h / s. Later, the 16 percent improvement in Bitcoin mining increased balance and recovery.
Meanwhile, analyst Plan B says the next difficulty adjustment will see an epic rise of around 10 percent.