As you know bitcoin price falling from 20K usd to 5750 usd but you suprise to know that bitcoin hashrate is increasing day by day. The bitcoin hashrate increase in july to 155% from Dec -17. So far in 2018, it has grown 155%, from 15.04 Eh/s to 38.43 Eh/s. what the reason behind increase bitcoin price
bitcoin hashrate explained with below chart
1st reason is this miners believe that bitcoin price will rise in future and price will cross all time high in future. One possible reason increase in hash rate is Bitcoin’s value. Although Bitcoin has lost a lot of value in 2018, the block reward of 12.5 Bitcoin is still worth over $78,000 today. 2nd reason is that bitcoin mining difficulty will be doubled in 2020, so this is the right time to increase your bitcoin share as in 2020 Another possibility explaining the increase in hash rate could be upcoming Bitcoin “halvening,” estimated to occur around May 25, 2020. With the reward set to decrease from 12.5 BTC per block to 6.25 per block, miners may be trying to accumulate as much Bitcoin possible, before difficulty further increases and rewards decrease.
The price of BTC at the time of the last two halvenings were $660 and $12 in 2016 and 2012, respectively.Although miners give postive response to bitcoin hashrate as it hashrate keep on increasing they thinking about future. so what you people feel about future of bitcoin kindly share your thought as i am very positive that bitcoin will make new high in future as it is only matter of time.