BTC Network Is Now 8x More Powerful Than It Was At $20,000

The network surrounding the most dominant cryptocurrency, Bitcoin, is apparently getting more and more powerful than it was before. The BTC network now has more computing power backing its security than ever before, passing another crucial milestone as the hash rate reaches a new all time high.

According to data from the monitoring resource Blockchain, the BTC network is in the latest cryptocurrency news for a new hash rate high of 79 tera hashes per second (TH/s) on July 20. This is a very important milestone for Bitcoin – and a measure that is broadly accepted, referring to the robustness of Bitcoin’s transaction security.

The hash rate of the BTC network has broken multiple records in the recent weeks and months. As we reported along with many other best cryptocurrency news sites, more recent all time highs were established in June (65 trillion TH/s) as well as the first day of July, when the BTC network hit an all-time high at that point, reaching a rate at 70 trillion TH/s.

In the coming altcoin news, we can also see a positive incline because of the BTC network high. However, this record comes at a pause in the gains for the Bitcoin price – when the cryptocurrency is reconsolidating and falling off from the yearly highs at ,800 weeks ago.
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Ever since then, it was the regulatory pressure which affected the price of Bitcoin as well as the BTC network in general. The most dominant cryptocurrency dipped to as low as $9,125 and the altcoin news showed bleeding in the other coins, too.

The good news is that the decline failed to weigh on the BTC network performance. As we previously reported, the network behind Bitcoin is getting stronger and more powerful and the transaction fees remain low despite the fluctuations in price and volume.

Last but not the least is the mining performance, which has turned a corner since the bottom of the Bitcoin bull market during December 2018. As we can see, this performance will now revolve around the May 2020 block reward halving. Analysts predict it to be the strongest at this point. Bitcoin’s mining difficulty (which also hit new highs recently) will probably increase in the future too, mostly because of the hash rate getting stronger and expanding.