Bitcoin Hash Rate and Daily Transactions Reach New Highs Despite Price Volatility

Libra Coin News
Thu, 09/26/2019 - 07:01
Alex Dovbnya
The fact that the Bitcoin network is as strong as ever is enough to ignore the disappointing price action
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Bitcoin’s obituaries continue to rise after the descending triangle resolved downwards, but, in fact, the coin is the strongest it has ever been. In case the 15 percent Bitcoin price drop was too much to handle for you, here are some Bitcoin stats to soothe your pain.

According to Twitter user Hans HODL, the yearly moving average of all BTC transactions has recently reached a new all-time high, which shows that Bitcoin isn’t exactly dying.

Recent Bitcoin Price Drop Might Indicate the End of Bull Market: Trading Experts

The same pertains to Bitcoin’s hashrate, which keeps printing new highs with more than 600,000 miners joining the network since June.

Lastly, Bitcoin is the only asset with a number of parabolic advances on the logarithmic chart, which means that you should probably ignore all the noise that is happening on daily price charts.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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