Bitcoin hash rate hits record 200 EH/s in fresh BTC price bull flag

Bitcoin hash rate hits record 200 EH/s in fresh BTC price bull flag

The old adage “price follows hash rate” may be about to see one of its biggest tests in the past 12 years. Bitcoin (BTC) has seen a classic indicator of a coming bull run pass a historic milestone as miners commit more and more resources to its future.According to data from on-chain monitoring resource Glassnode on Friday, Bitcoin’s network hash rate has passed total exahashes per second for the first time in its history.Hash rate underscores miner commitmentComing as a spike in a long-term uptrend, crossing the significant boundary means that the hash rate has doubled in under nine....

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The Bitcoin network’s hash rate level continues to hit record highs in 2022, but how much hash rate is enough… or even too much?