Bitcoin (BTC) Hash Rate Records New All-Time High As Price Tops $11,000

The hash rate of the Bitcoin (BTC) network has surged high to record a new all-time high. According to data provided by on-chain market intelligence firm Glassnode, the Bitcoin hash rate has reached 170 exahashes per second which is the highest ever level in history that the Bitcoin network has touched. Meanwhile, the price value of the first-ranked digital currency BTC has topped $11,000.

An increase of around 40% since the halving

The Bitcoin network has achieved a new milestone as its hash rate has spiked to a new all-time high at 170 exahashes per second. The network hash rate has touched this level for the first time in history. According to Glassnode, since the halving event in May, it is approximately a rise of 40 percent so far.

#Bitcoin hash rate hits a new ATH and touches 170 exahash for the first time in history on the hourly chart (24h MA). That is an increase of around 40% since the halving in May, substantially adding to the security of the network.”

Source: Glassnode

This surge in the hash rate of the Bitcoin network was also noted by Bitinfocharts.com as well. However, according to Bitinfocharts.com, the hash rate has hit 155 EH/s while showing a rise of 63 percent since the previous year.

Bitcoin tops $11,000

Finally, the world’s largest digital currency by market capitalization Bitcoin (BTC) has seen a significant surge in its price value. The coin’s price has topped the past resistance level of $11,000. Bitcoin has achieved this breakout after consolidating for several weeks in the $10k – $11k area. Historically, the price of BTC has traded in the five figures for more than 65 days consecutively.

Now, Bitcoin is trading at $11,378.76 USD and its price is up 4.73 percent in 24 hours, at the press time. This positive outlook of Bitcoin indicates that the coin is heading towards its next major resistance that lies at $12,000. This upcoming resistance is crucial for Bitcoin to break for starting a macro bull-run.

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