With the swings in the crypto market, Bitcoin has been at different unexpected levels this year. The crypto winter in the year’s first half gave the leading crypto asset a blow off its balance. As a result, BTC’s price fell to over half its value as of November 2021.
But despite the price fluctuation, the Bitcoin hash rate moved upward since its drop in mid-July. In a recent report, the BTC hash rate has hit a new all-time high (ATH). This new position came following the last increase in the mining difficulty.
The significance of the hash rate metric for the Bitcoin blockchain is that it provides information on the strength of the network based on the BTC mining process. In addition, it correlates the