Bitcoin’s hash rate has broken a record with yet another all-time high. The hash rate is breaking records it previously set and hit a whopping 82.5 TH/s on August 19<sup>th</sup>.  Hash rate/hashing is the computing power that generates the number of calculations a certain network will perform each second. A higher hash translates to higher competition among miners to validate new transaction blocks. In addition, high hash rates surges the amount of resources required to perform a 51% attack.

In the long run, makes the network more secure. The record hash rate signals for an impending bullish BTC market due to the representation of a strengthened and robust network.
<h2>Post Halving Scarcity</h2>
Around May 2020, Bitcoin’s halving will be on its way and the pre-coded 50% reduction will bounce back to be block rewards for miners. Further ahead, the event of Bitcoin halving could seemingly cause bullish implications for BTC price. If you have been keen on the Bitcoin’s trends and price correction in the past few years; you might have noticed that scarcity creates an upset towards a bullish trend.

Hence, the halving will create Bitcoin scarcity, which will drive the price of Bitcoin to new heights. However, there is concern in the crypto world; that the Bitcoin halving resulting to reduced block rewards; will corrupt <a href="https://blockspoint.com/articles/technologies/bitcoin-community-and-its-participants">network participation</a> and negatively impact the network. This will happen by reducing the network hash rate and therefore creating an unstable Blockchain.
<h2>Bottom-line</h2>
However, there seems to be an optimistic curve drawn from Litecoin’s 2019 post halving events that led to an even more robust Litecoin network. Litecoin (LTC) founder Charlie Lee had predicted a rather dark forecast against the coin’s mining ecosystem once the halving is done. However, his expectations backfired and the <a href="https://www.cryptoknowmics.com/crypto/mining-difficulty-may-indicate-when-is-the-best-time-to-buy-bitcoin/">networks post hashing event</a> rose to greater heights. Evidently their seems to be some truth in Max Keiser’s argument that ‘Price follows hash rate’.

Max Keiser is a leading Bitcoin investor.

Bitcoin Hash Rate at an All Time High: What to Expect ?

Bitcoin’s hash rate has broken a record with yet another all-time high. The hash rate is breaking records it previously set and hit a whopping 82.5 TH/s...

Richard is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates him, he finds the intersection of both technology and finance mind-blowing. The firm belief that fintech will drive the future has brought him to the crossroads of Fintech discoveries and transmission of immutable data to a wider audience.

Bitcoin Hash Rate at an All Time High: What to Expect ?

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