Market Snapshots

Bitcoin Hash Rate Hits Record Average

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.

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.

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.

Bitcoin Hash Rate Hits Record Average High With $12K Price in Sight, CoinTelegraph, Aug 17

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