Since the beginning of the year, the king coin’s price rose by 199% and despite a few stints with the bear, BTC has retained its valuation above the $11k-mark. Bitcoin’s ballistic rise continued to prompt the digital asset to touch new highs in 2019.
In a yet another record for the oldest and the largest cryptocurrency, Bitcoin’s hash rate hit an all-time high of 74.54 million tera hash per second. Its hash rate was in a positive trend since last month. This figure depicted a rise of computing power in order to secure the network since the Bitcoin crash in 2018 by 140%. Prior to this stint, Bitcoin’s hash rate broke an all-time high with 68.63 million TH/s on June 29th.
The increasing price movement was leading the rising hash rate. At press time, the “digital gold” was trading at a market cap of $199.9 billion, valued at $11,228.
As Bitcoin nears its scheduled halving in 2020, the digital asset’s other network activity metrics were also at the highest levels. The asset’s difficulty stood at 7.93 T on July 6th.
Another positive movement was noted in the mining revenue aspect of the digital asset. Bitcoin’s mining revenue exhibited a rise and was recorded to be $25.96 million on July 6th.
The second quarter for Bitcoin proved to be stellar with another all-time high in the Unspent Transaction Output [UTXO].
The latest ATH in terms of hash rate comes at a time when its hard fork coin, Bitcoin Cash [BCH] reported a very low hash rate. The controversial coin has been dominated by Bitcoin in almost every aspect despite being ridiculed by the BCH and the BSV community over the scaling row.