Computing activity on the bitcoin network has broken all previous records this week.
The hashrate, according to the Glassnode analytical platform, has reached 200 EH/s. This is a new historical maximum, experts said.
Over the past nine months, the computing power on the blockchain has approximately doubled, which suggests that miners expect higher prices in the market and are trying to mine as many coins as possible.
Morgan Creek co-founder Anthony Pompliano was one of the first to comment on the data on the growth of bitcoin hashrate. According to this expert and BTC proponent, it's no surprise that miners are ramping up capacity.
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Rising network metrics signal that renewal of price highs is just around the corner, Pompliano wrote on his blog last Friday.
Today the bitcoin rate has grown slightly after yesterday's fall. At the time of publication of this material, the cryptocurrency was trading in the region of $62,200.
The day before, the coin suffered losses against the backdrop of a negative news background, primarily caused by the ban on the use of cryptocurrency in Turkey.
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First, volatility eased after the Coinbase IPO, and then corrections came to the market. As a result, BTC dropped below $ 62,000 on some trading floors.