Since the beginning of the year, the king coin’s price rose by 199% and despite a few stints with the bear, BTC has retained its valuation above the $11k-mark. Bitcoin’s ballistic rise continued to prompt the digital asset to touch new highs in 2019.
In a yet another record for the oldest and the largest cryptocurrency, Bitcoin’s hash rate hit an all-time high of 74.54 million tera hash per second. Its hash rate was in a positive trend since last month. This figure depicted a rise of computing power in order to secure the network since the Bitcoin crash in 2018 by 140%. Prior to this stint, Bitcoin’s hash rate broke an all-time high with 68.63 million TH/s on June 29th.
Source: Blockchain.com
The increasing price movement was leading the rising hash rate. At press time, the “digital gold” was trading at a market cap of $199.9 billion, valued at $11,228.
As Bitcoin nears its scheduled halving in 2020, the digital asset’s other network activity metrics were also at the highest levels. The asset’s difficulty stood at 7.93 T on July 6th.
Source: BitInfoChart
Another positive movement was noted in the mining revenue aspect of the digital asset. Bitcoin’s mining revenue exhibited a rise and was recorded to be $25.96 million on July 6th.
Source: Blockchain.com
The second quarter for Bitcoin proved to be stellar with another all-time high in the Unspent Transaction Output [UTXO].
Source: Blockchain.com
The latest ATH in terms of hash rate comes at a time when its hard fork coin, Bitcoin Cash [BCH] reported a very low hash rate. The controversial coin has been dominated by Bitcoin in almost every aspect despite being ridiculed by the BCH and the BSV community over the scaling row.
Source: BitInfoChart
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