There are all kinds of bullish predictions out there these days about the price of Bitcoin.
Various people from the crypto space are dropping all kinds of optimistic thoughts about the price of the king coin.
Check out a recent one below.
Dynamite is coming to the markets soon. #Bitcoin
— Michaël van de Poppe (@CryptoMichNL) July 17, 2021
More important analysts in the crypto space are expecting to see some upward moves regarding BTC’s price these days.
At the moment of writing this article, BTC is trading in the green, and the king coin is priced at $31,713.89.
Bitcoin’s hashrate is rising
Gemini’s Tyler Winklevoss points out the fact that Bitcoin’s hashrate starts to rise, and he says that few people understand the meaning of this.
Few understand this. https://t.co/rZxE9vgdXK
— Tyler Winklevoss (@tyler) July 16, 2021
According to official data coming from TrustNodes, Bitcoin’s hashrate has risen to 120 exahashes per second for the first time since it plunged last month.
Just to make it very clear, that’s more than double the recent low of 58 exahashes with the hashrate seeing an upwards trend for the past three weeks.
“That suggests a significant amount of hashrate based in China has relocated or otherwise turned back on in a fairly short amount of time,” the same notes say.
The notes also say that we still have to wait and see whether this will be reflected in the price of Bitcoin as well.
We suggest that you check out the complete notes in order to find out all the available details about the matter.
Other than this, Bitcoin adoption has been seeing massive moves these days and this is great for the mainstream adoption of digital assets.
This has been one of the main goals of the crypto industry so far and there have been more moves taking place in this direction.