Currently, the miners residing in the United States contribute the highest in terms of the global hash rate of the Bitcoin network, 35.4%.A recent Cointelegraph analysis from January concluded that the industry players believe that the BTC hash rate will continue to grow. Despite the investors’ panic induced by the BTC price roller-coaster, industry experts pointed out that the Bitcoin network has become verifiably stronger than ever before.
Michael Levitt, co-founder chairman and CEO of Core Scientific, told Cointelegraph that he fully anticipates for the BTC global hash rate to continue growing at an aggressive pace. However, he mentioned that this growth is dependent on the price of Bitcoin moving forward, along with the success of the infrastructure currently being built.
Source: Digital Coin News (digitalcoinnews.net)
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High hash rate only shows that it is still profitable to mine bitcoin. It does not indicate anything about the future price of bitcoin.
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Looks like the price is starting to drop again. I still have some usdt to buy sats.
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Bitcion network hashrate increasing to new all time high is an indication that the community is strong. These minners are not slowing down at all, showing that they know something that we probably don't. People are out here panic selling, while miners remains unshakeable
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hmm, I think bullish
Absolutely bullish! Glad I spent all My USDT on BTC when it was below $40,000.
It depends on individual perspectives
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