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The Bitcoin is long-term in the high-altitude flight. Also the Hash Rate of the network reached an all-time high. In addition, the market capitalization increases to the maximum value since 2017. What the values on the course and security of the network.
From Polina Khubbeeva11. July 2019BTC$11.427,00 -4.67%part Facebook Twitter LinkedIn xing mail
for months, it goes uphill with Bitcoin technically increasingly. The crypto-data supplier Blockchain.com determined on the 07. July 2019 is also an all-time high of Hash Rate in the network. In addition, the market capitalization of the Bitcoin is reached at the 8. July, 64.3 percent of the total market capitalization. This is the highest dominance of the crypto-currency since April of 2017.
Hash Rate as a stability indicatorThe Hash Rate the number of calculations reaches a network per second referred to. This Parameter is especially important for miners. Because the higher the Hash Rate, the harder it is for the Miner to find valid blocks. Finally, the so-called Difficulty, so the relative difficulty of finding valid hashes of Hash Rate usually. That is, to all appearances, however, more and more miners into the network, pushing, indicates a positive market sentiment. In other words, the Mining Rate and Difficulty, it seems, even with a high Hash to be a lucrative business. Otherwise, would the Miner to take their devices from network.
This is also seen in the context of the upcoming Block Reward Halvings, which is expected to be in may 2020 is in the offing. Then, the Bitcoin inflation rate – and thus also the nominal proceeds of the Miner is cut in half. It is a kind of accumulation, the trend seems to be emerging; a change in price in the course of the Halvings, a prices, therefore, in advance already. BTC-ECHO has discussed the Halving cycles and the Inclusion of selbiger at this point in more detail.
A high Hash Rate also points to the stability of the network. With a current Hash Rate of 65,87 EH/s the Bitcoin network is as secure as never before. The connection between energy consumption and monetary value of Bitcoin, we will explain here.
Hash Rate and market dominance to achieve new heightsIn the crypto-Winter 2018, the bears pushed the Bitcoin price to $ 3,400. Since April, 2019, the crypto-currency is again on the rise.
What effect this has on the entire market, is the market capitalization recognizable. Although the market weakened in value last week. Among other things, due to the rising Bitcoin exchange rates of the share price recovered again. Currently, the market capitalization of Bitcoin is in 209,8 billion US dollars, and the Cryptocurrency ensures the undisputed number one in the market. Although Bitcoin has fallen in the last 24 hours about a total of 5.24 percent to 11.8 US dollars, it is still the most successful of all digital currencies. This is also the Bitcoin dominance of 64.3 percent is proof of this. What should investors, we show here.
Together with the record-breaking Hash Rate, this leads to the conclusion that we are in a bull market. Because, after all, investors do not only look forward about the rise in the exchange rate. Also the stability, which solidifies with time, attracting investors and miners. A higher demand for Mining Hardware manufacturers are already seeing.
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