Yesterday saw a new all-time high for Bitcoin mining, but it had no positive impact on the price.
In fact, according to the seven-day moving daily averages of Bitcoin hashrate, yesterday marked the first time that 360 EH/s was approached.
Taking individual hourly data, the peak was even above 440 EH/s, something that has never happened before in the past.
Very high levels had already been recorded at the end of March, which then constituted new all-time highs, and curiously enough when Bitcoin’s price jumped above $30,000 about ten days ago, the hashrate had not reacted immediately. However, starting on 13 April, it began to rise again, eventually hitting a new all-time high yesterday
Bitcoin mining: the relationship between hashrate and price
There is often a tendency to believe that upward or downward movements in Bitcoin mining hashrate should somehow affect the price of BTC, and instead it is the other way around.
That is, since the miners’ revenue in BTC is always mor
We współpracy z: https://en.cryptonomist.ch/2023/04/20/bitcoin-mining-grows-not-price/
