On-Chain Data Quietly Signaling Bitcoin (BTC) Bullish Reversal Brewing, According to Top Crypto Analyst

On-Chain Data Quietly Signaling Bitcoin (BTC) Bullish Reversal Brewing, According to Top Crypto Analyst


Bitcoin (BTC) may be gearing up for a bullish reversal if on-chain metrics are any indication, according to popular crypto analyst Michaël van de Poppe.

The analyst tells his 589,000 Twitter followers that Bitcoin’s hash rate has hit another all-time high, which has often historically preceded BTC rallies.

“Bitcoin hash rate has reached an all-time high, while crypto ban has been taking place.

Trending: WATCH: President Trump Unveils New Book!

This shows that the demand for mining Bitcoin is increasing, the network is getting safer and eventually, the price will follow this metric.”

Source: Michaël van de Poppe/Twitter

Bitcoin’s hash rate measures the total computational power used to mine BTC and power transactions. It is also a key security metric as the higher the hash rate, the greater the network’s resistance against

Continue reading

You Might Like

 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!
Send this to a friend