Bitcoin Hash rate mooning

Hello!

One of the metrics we have to monitor is Has hrate. Bitcoin hash rate has been in an uptrend since inception, however it has had some bumps on the way. Max Keiser always says that this is the most important metric. If the network hash rate increases then Bitcoin's is healthy and ready to thrive.

This is the Total Hash Rate measured in (TH/s) and the source of information is blockchain.com

With the "all" periodicity we can clearly see that it has skyrocketed at 2018 and the growth is exponential. I don't expect this growth to slow down, in fact I still think that the hash rate will continue growing exponentially.

From the image we can clearly see the China mining ban effect that happened at the end of 2021. At that time a lot of China miners had to move their equipment and relocate to other crypto friendly jurisdictions. The decrease of the network has rate was followed with a big bear market correction. It crushed Bitcoin and the other altcoins fell even more.

If we zoom in, last year has been trending upwards too, and the price of Bitcoin has also continued with their bullish direction. In fact, we went from less than $40,000 to close to the $100,000 mark. I expect this trend to continue, and hopefully we can see Bitcoin above the $100,000 mark soon.

Posted Using InLeo Alpha