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Bitcoin's hash rate rebounds for the first time since halving

Bitcoin's hash rate rebounds for the first time since halving

Bitget2024/08/21 05:12

According to the Hash Ribbons indicator by CryptoQuant, the Hash Ribbons just issued a signal indicating the end of miner capitulation. Meanwhile, the hash rate reached a new peak of 638 exahash (EH/s) per second, which is the first rebound since Bitcoin halved. CryptoQuant explained: "Although this indicator is not intended to accurately point out price bottoms, it usually issues signals of reduced selling pressure from miners before prices rise."

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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