Bitcoin Hash rate returned to its All-time high.

[Wiwo]

After the Bitcoin hash rate dropped down since June 2021 after China climbed down on Bitcoin miners, this week the bitcoin hash rate has returned and made a new all-time high in its transaction hash rate which points to one thing that the price of the cryptocurrency will see a new twist in uptrend dimensions.

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[bitmover]

After the Bitcoin hash rate dropped down since June 2021 after China climbed down on Bitcoin miners, this week the bitcoin hash rate has returned and made a new all-time high in its transaction hash rate which points to one thing that the price of the cryptocurrency will see a new twist in uptrend dimensions.

And this is quite amazing. Mempool is quite clean of transactions.

We can see now using https://mempool.space/ that we can get a confirmation with just 1 sat/vbyte.

Bitcoin is fast, cheap and secure.

Miners are investing in bitcoin. I believe big players are investing as well. We should not panic sell in this dip

[BitMaxz]

I thought that the mining ban in China is lifted but I couldn't see any news if it's lifted.
I think there might be newborn gear produce that could mine more than 110th/s which I think is one of the reasons why the hashrate is rising and reaching a new all-time high.

I don't know about the price if it becomes an uptrend but since the hashrate is increasing more supply is coming.
So if Bitcoin is still in low demand then the price movement is still stable or downtrend. I'm not FUD but it's just my own analysis.

[buwaytress]

As expected. And as I said those months ago, if THAT is the extent of the effect on hashrate on the China exodus, then all those qualms we've sometimes had over Bitcoin's distribution of hash power can be put to bed. If anything, that incident brought in many more new players, further diversifying miners.

And this is quite amazing. Mempool is quite clean of transactions.

We can see now using https://mempool.space/ that we can get a confirmation with just 1 sat/vbyte.

It's been for the majority of the year, actually. I've caught a few times where the fee's 3 to even 15 sats as a suggested next block confirmation, but that's usually when there's been an unusual amount of time from the last block found. A 1 sat/byte tx is all I've done all year long for non-urgent transactions and everything's in before 24 hours pass.

[kaya11]

It's good news for miners like us, I hope it does give great deals for us. How did it go for miners on China? They the go back to mining again? What ever comes I won't stop mining Bitcoin or eth or any other coins, aside from it gives me money I can most of my time mining and thus contributing to the network.

[tbct_mt2]

You will read many news like this in future.

Bitcoin Hashrate Hits Record 8,350,000 TH/s While Price Trades Sideways
As BTC price gets close to $36K, Bitcoin network hash rate hits new high

If China crackdown on mining can not stop Bitcoin network, what else can?

Be strong and if you believe in Bitcoin, its network, its core technology and powerful financial freedom it gives to community, let's strengthen your belief more. It is one chance in your life to believe in or disbelieve in Bitcoin. 

[hugeblack]

It is a positive sign on three aspects: price, decentralization and transaction licenses. We are at the $50k USD and still need near-zero fees to confirm transactions. Therefore, the situation is better than 2017, but it may not be excellent in price. We may need to wait a month or two until we reach 70K USD.

[fiulpro]

After the Bitcoin hash rate dropped down since June 2021 after China climbed down on Bitcoin miners, this week the bitcoin hash rate has returned and made a new all-time high in its transaction hash rate which points to one thing that the price of the cryptocurrency will see a new twist in uptrend dimensions.

Not a tech person. But for me Hash rate = security.
Security is now the number one thing when it comes to any cryptocurrency. At the same time this shows some few other things as well:
1. Dominance of China over the market died
2. Miners were able to upgrade and adjust which means it would have long term benefits since it would not be controlled by the Chinese
3. Price will start recovering because of the good news
It's not just the price that might have a positive feedback, it would also be the general health of the market. We can also see + effects on other Altcoins as well. Their trading pairs might be on the top soon.
Also a side note :
Not always is the increasing hash rate a good implication since we might be needing more energy, more energy consumption perse, so to make the whole thing sustainable, they might have to switch to renewable sources of energy.

[RapTarX]

Ah, how come? How all the Chinese guys started mining once again LOL. It's quite surprising that we got an ATH while China has banned mining. Is it possible that all these miners from China have shifted from China to more Bitcoin friendly country? China news fud is going to die soon and won't have much influence over the market I guess.

[Oasisman]

Ah, how come? How all the Chinese guys started mining once again LOL. It's quite surprising that we got an ATH while China has banned mining. Is it possible that all these miners from China have shifted from China to more Bitcoin friendly country? China news fud is going to die soon and won't have much influence over the market I guess.

That is what most probably happened.
When you put up a mining rig in a county where it has been an anti-crypto government since the very beginning, you'll be expecting a crack down anytime to any crypto related investments & businesses, and Bitcoin mining are one of those.
So, the most important thing and the most safest thing to have is a contingency plan. Once a ban is imposed, you'd better be ready to vacate all your hardware to a place where it's unlikely to be cracked down as soon as possible.

[teosanru]

After the Bitcoin hash rate dropped down since June 2021 after China climbed down on Bitcoin miners, this week the bitcoin hash rate has returned and made a new all-time high in its transaction hash rate which points to one thing that the price of the cryptocurrency will see a new twist in uptrend dimensions.

Isn't this the other way round? What I have seen in the past is that first, the price of bitcoin would rise and accordingly miners come in and the hash rate rises too, same happened this last time also until the China ban, I have never seen the market touching new highs because the hash rate has gone very high. But yes this does indicate one thing that just because one big country has banned mining doesn't mean that mining would stop altogether, miners just shifted their location or the old miners exited and the new miners have joined in the pool. Indicating to the remaining countries also that it's almost impossible to ban mining altogether.

[dothebeats]

Just a few months ago, China has been cracking down on miners, but all they did was force miners out of their pitiful situation and seek business somewhere else. It's never the loss of the network nor the miners as a whole, but rather the governments which constantly tried to ban bitcoin and all of its machineries in favor of their own interests. They gain nothing in return, and lost just a whole lot more by doing that silly move.

[Leviathan.007]

This can be a piece of very good news for bitcoin miners also I can see the mempool is nearly empty of transactions and most of the transactions can be confirmed with even 2 or fewer sats and this situation on the bitcoin network is really nice. However, I didn't see any news about China and the ban if it's lifted or not. Also in my idea after this good situation and the recent price fall which was necessary for recovering the price, everything is ready to see a higher target because of this good situation of the network.

[NeuroticFish]

I don't know about the price if it becomes an uptrend but since the hashrate is increasing more supply is coming.

If I understood it right, you seem to be expecting miners receive more bitcoin because of the hash rate increase.
While there will be an ~8% increase caused by the faster blocks, that will last only 2 more days, until the next difficulty adjustment.
So overall medium - long term effect on the price should be upwards.

If I've done similar math as you did, the downwards trend should be there only on short/very short term (and I would not be certain about that either, since we already had the drop).

[Mamun74]

Since, 2012-2013 when bitcoin price was to low like satoshi.Now 2020-2021 Bitcoin price huge increase and this year i has been reached $66k+. Bitcoin is still developing their system and price. I think 2022 Bitcoin price wil be back high rate and it will be reached $70k+. And broke the all record price.

[DaveF]

I'm guessing that in addition to all the large mines coming back on the colder weather in the northern hemisphere is bringing back a bunch of smaller home miners who are using them as heaters.
Last year I had about 40th that I was using to heat my place instead of gas. Lost money running the older units, till the bull run, but it still was better then just burning gas for heat.

This year for me personally I just have 17th or so, but my neighbor is running about 65th to heat his home & garage and workshop out back.
How many people are going the same. 10th here, 25th there and so on does add up.

-Dave

[aoluain]

I'm guessing that in addition to all the large mines coming back on the colder weather in the northern hemisphere is bringing back a bunch of smaller home miners who are using them as heaters.
Last year I had about 40th that I was using to heat my place instead of gas. Lost money running the older units, till the bull run, but it still was better then just burning gas for heat.

This year for me personally I just have 17th or so, but my neighbor is running about 65th to heat his home & garage and workshop out back.
How many people are going the same. 10th here, 25th there and so on does add up.

-Dave

Makes sense for sure now that we are in the winter months in the northern hemisphere.

All in all this is a good news story, as meny have posted above, it just goes to prove
that no one country can have an effect on mining with their decision to ban or not the
activity. There will always be people ready and willing to mine at an opportune time.

A quick grab from > https://www.blockchain.com/charts/hash-rate

Explanation
Mining hashrate is a key security metric. The more hashing (computing) power in the network,
the greater its security and its overall resistance to attack. Although Bitcoin’s exact hashing
power is unknown, it is possible to estimate it from the number of blocks being mined and the
current block difficulty.

[Baofeng]

I think months after the Chinese crackdown, hash rate has slowly getting up and maybe we may have reach the peaked right now and hopefully it could translate to the price upsurge in the next couple of weeks.

Also the next time we hear about news coming from someone spreading FUD again about Chinese banning everything related to crypto, we should point them out to the hash rate to kill their arguments. 

[Yogee]

I thought that the mining ban in China is lifted but I couldn't see any news if it's lifted.

The last news I read was they were asking for public opinion on whether they should lift the ban or not.
We'll just go back to the ban-unban-ban-unban news if they actually lifted it.

...Also the next time we hear about news coming from someone spreading FUD again about Chinese banning everything related to crypto, we should point them out to the hash rate to kill their arguments. 

China ban FUDs won't be as effective as before. Even the newbie traders and investors are probably tired of hearing the same thing over and over again.

[Welsh]

Can't wait for the news to catch onto this, and spin a story off about Bitcoin being bad for the environment once again. It'll be like clockwork. In fact, I'm quite surprised they haven't already start spinning it this way.

The last news I read was they were asking for public opinion on whether they should lift the ban or not.
We'll just go back to the ban-unban-ban-unban news if they actually lifted it.

Really? That sounds like the most anti Chinese government thing to do. Since when do they care about the opinion of their people? They place restrictions, and censor them whenever they're given the opportunity. No wonder China isn't all that stable, and most Chinese residents are finding ways around their restrictions they have in place.