🔔 Bitcoin’s hashrate, and it just hit a record high with more than 166.4M TH per second.
🔔 The hashrate and the price are strongly correlated, as miners expect a higher reward for the higher computational capacity provided by them.
🔔 The previous ATH of Bitcoin’s hasrate was on February 9, 2021 when BTC/USD hit $48 142 setting a new high, and after a slight correction set a new straight uptrend, which continued up to February 21 and halted at $58 352. With that being said it is estimated that Bitcoin is entering into a new bull cycle.
🔔 Bitcoin is above the dynamic resistance of a descending parallel channel, it must surge!
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