Bitcoin Processing Block Time Hits New All Time High Again

The Bitcoin processing block time or better known as the hash rate, has just reached an all-time high of 126.13 exahashes per second so let’s see what this means for the crypto market in today’s Bitcoin latest news.

The bitcoin transactions will go through fairly easy with a few clicks but there is a huge industrial complex of sending Bitcoin across the world and the internet at the moment. Every day, there are tens of thousands of computers that are only created to fulfill crypto purposes which make computational solutions extremely effective.  Bitcoin is still far away from its all-time high price of $20,000 but a lot of capital has been invested in keeping the network secure and making a clear path for the future of the cryptocurrency.

As noted by the crypto users Hodlonaut, the data shows that the Bitcoin processing block time or the hash rate, has reached 126.13 exahashes per second which is about 1000 percent higher than when it was when BTC was trading at $20,000 in December 2017. Hodlonaut commented on the security of the Bitcoin network saying that with 126 exahashes, about 126 billion of SHA-256 Hashes are being computed every second and this helps secure the transactions and create a cohesive blockchain. He continued to say that this number is a sign that the fundamentals of Bitcoin are stable.

The increasing of the hash rate confirms that the so-called miner capitulation is now finally over. Previous comments about the miner capitulation have marked a macro bottom in the Bitcoin market with an average of 5000 percent gain according to an analysis by the digital asset manager Charles Edwards. As noted in previous reports, SBI holdings, the financial services company in Tokyo, will begin mining operations on a huge farm in Texas. The farm will have a mining capacity of 1 gigawatt by the end of 2020 which is three times larger than the one of Bitmain.

However, this is not the only fundamental that has investors being bullish on Bitcoin. Over the past few years, the institutions have started getting deeper in the crypto investment arena and 2020 is expected to be huge for the institutional investors. Changpeng Zhao said that he expects this year to gather more institutional support which will result in a more bullish market.