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BTC$63 645.44

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Ethereum
ETH$4 139.22

-1.75%

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BNB$494.18

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Bitcoin Hash Rate Hits Record Average High With $12K Price in Sight


17 Aug 2020

#Bitcoin

Bitcoin’s seven-day average hash rate passes 129 TH/s for the first time as the price continues to meet resistance at the $12K level. As the price of Bitcoin continues to meet resistance passing $12,000, its hash rate has hit a new all-time high.

Data from Blockchain.com confirms that on Aug. 15, Bitcoin’s seven-day average hash rate reached a new peak of 129.075 TH/s. The achievement comes after two weeks of fairly stagnant hash rate growth, with the previous record set on July 28.

The hash rate is an estimate of how much computing power miners are devoting to processing Bitcoin (BTC) transactions. A higher average suggests that miners have more faith in profitability, so there is generally a strong correlation between hashrate and price.

Bitcoin surged past $12,000 twice in August before falling back into the same mid-$11,000 range. The BTC price continues to meet resistance at the $12,000 level, staying between $11,700-$11,900 range over the weekend. 

Gold and Bitcoin correlation 


Bitcoin and gold may prove to have a stronger correlation in 2020 as many investors turn away from traditional finance during the Federal Reserve’s and other central banks’ response to the pandemic. 

The price of gold recently passed $2,000 per ounce as Bitcoin may be in the early stages of its own bull run. Bitcoin investor Max Keiser said that billionaire Warren Buffett’s recent investment in gold could even push the price of BTC to $50,000.

Source


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 64% 82 $63 645.44 -1.99% 7.33% $1 199 774 552 258 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 68.8% 59 $4 139.22 -1.75% 9.78% $488 553 235 728 ETH 7 days price change
3 Binance Coin (BNB) BNB Binance Coin predictions 65.6% 64 $494.18 2.27% 7.35% $82 429 849 478 BNB 7 days price change
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6 Solana (SOL) SOL Solana predictions 71.2% 53 $208.99 12.31% 31.86% $62 869 603 263 SOL 7 days price change
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11 Terra (LUNA) LUNA Terra predictions 68% 63 $44.81 8.47% 21.75% $17 994 078 265 LUNA 7 days price change
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15 Litecoin (LTC) LTC Litecoin predictions 69.6% 56 $199.17 -2.89% 10.96% $13 703 410 012 LTC 7 days price change

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