Topic: Bitcoin Hash Rate on All-Time High, What does it Mean for BTC Price? - page 2. (Read 347 times)
August 05, 2018, 06:02:52 PM
In my opinion hashrate has very low impact in the price of bitcoin. Increasing hashrate means more and more miners are joining the bitcoin mining activity. But increasing number of miners means there will be less bitcoin rewards to each of them. As a result, they would want to sell their small amount of bitcoins at a higher price. This might be a good thing.
August 05, 2018, 05:44:45 PM
Hash rate is the computational power of miners during the process of creating new coins which are basically driven by the difficulty. So having a very high hash rate means, miners have started to mine with double intensity rather than investing on bitcoin directly, so the demand will increase among the people who want to purchase BTC. So, it will make the demand and price go up.
I believe you have the wrong idea here. Increasing the hash rate doesnt neccesarily mean that the price would go up. It only strengthens the competition among miners though it helps to improve the network. There is no direct correlatio between hashrate and demand of bitcoin since up to date, bitcoin is still volatile and speculative.
August 05, 2018, 05:27:07 PM
The hash rate is due to the miners. Even though the price is low, it seems that the miners are sensible enough to get that this is just a temporary issue. Ergo, there is no fall in the hash rate. And this won't be affected by the price level.
August 05, 2018, 11:26:41 AM
Hash rate being high means that a lot of people around the world have moved to mining again. Which in return will create a huge demand and lack of supply in market because people who wants to purchase bitcoin will be very large in number. So, it looks very positive for the BTC price right now.
August 05, 2018, 04:38:30 AM
BTC is the most volatile as well as most suitable place with a huge amount of infinite opportunities. BTC hash rate is also the record benchmark of all coins in crypto space. Every year since it has launched has shown its miracle by going highest in the market. I think, this year it will be no less. BTC will overreach its record by itself.
August 05, 2018, 04:18:54 AM
If more people are devoting resources to getting their hands on bitcoin, that means we have a lot of bullish miners.
It's positive for bitcoin price. If people are willing to spend their electricity and their hard earned money on miners, they probably won't sell below market price when they get their coins.
It's positive for bitcoin price. If people are willing to spend their electricity and their hard earned money on miners, they probably won't sell below market price when they get their coins.
August 04, 2018, 12:42:16 PM
Prices have some effect on hash rates, albeit momentarily. Just as Bitcoin prices were showing signs of recovery, more hashing power came online during this period, but once prices crashed again, there was a sudden drop in Bitcoin mining hash rates. So the price decreasr might be a correction before it go high again
August 04, 2018, 12:39:38 PM
Hashrate was always high when BTC price was rising. Pump and dump will be happen in every market as it is usual nowadays, as it also happens in Crypto market. I assume it will be at the high again when the BTC price is going up by the end of 2018.
August 04, 2018, 12:23:22 PM
It's confusing to me that still it affect on BTC or not. BTC recenly dropped it's market value and which factor affect much for this drop ?
August 04, 2018, 12:17:56 PM
I think the hash will not affect Bitcoin prices. Because Bitcoin is fluid based. The price remains in the market. I think Bitcoin's price will increase again. Because the demand of Bitcoin is increasing day by day.
August 04, 2018, 05:55:06 AM
Hash rate is the computational power of miners during the process of creating new coins which are basically driven by the difficulty. So having a very high hash rate means, miners have started to mine with double intensity rather than investing on bitcoin directly, so the demand will increase among the people who want to purchase BTC. So, it will make the demand and price go up.
August 01, 2018, 07:07:03 AM
Bitcoin price has taken a further fall and dropped below $7,600 level. However, its network hash rate is at its all-time high after going through various ups and down in the short term. With the bears making an entry into the market, how is bitcoin hash rate going to affect it?
https://coingape.com/bitcoin-hash-rate-on-all-time-high/
https://coingape.com/bitcoin-hash-rate-on-all-time-high/
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