[Analysts from CryptoQuant said that Bitcoin’s computing power and price surge have recovered simultaneously]
Recently, the Bitcoin network’s computing power has shown signs of recovery. Well-known crypto analyst Julio Moreno said this is a positive sign for the Bitcoin ecosystem. He pointed out in an exclusive post on the X platform that higher computing power usually means increased miner confidence and improved network security. Currently, the Bitcoin network’s hashrate is down just 5% from its peak, an improvement from 9% a few weeks ago.
A pickup in hash rate could prompt miners to restart mining operations as profits increase from rising Bitcoin prices. In addition, this may also attract more miners to invest resources and further increase computing power. Higher computing power improves the security of the Bitcoin network, maintaining stability and trust.
The recovery in hash rate also reflects improved sentiment among miners. Analysts at CryptoQuant noted that the decrease in hashrate decline to 5% shows a positive outlook. These developments demonstrate that the Bitcoin network is moving towards greater stability and security.
