Hashrate

Tech spec

Brief Description: The daily average hash rate of the Bitcoin network, measured in hashes per second.

Hashrate reflects the computational power miners contribute to the Bitcoin network over a day, highlighting mining activity and network security levels.

Interpretation A rising hash rate implies increasing competition among miners but also suggests greater network security, making it more difficult for malicious actors to compromise the system. Conversely, a falling hash rate can signal that miners are leaving the network, potentially increasing the vulnerability of the Bitcoin network to attacks.

One way to visualize the Hashrate is to note is SMA 30 cross above/below the SMA 60.

Advanced Explanation The Hashrate metric provides a numerical representation of the mean computational effort that miners contribute to the Bitcoin network over the course of a day. This computational effort, or hash rate, is crucial for maintaining network security and processing Bitcoin transactions. The higher the hash rate, the more secure the network is considered to be, as it indicates a greater amount of resources dedicated to mining and verifying transactions.