- The bitcoin hashrate, a key network metric, hit an all-time high on January 2.
- But bitcoin has been sliding lower for weeks, having lost 12% in the last week alone, as investors ditch riskier assets.
- 8 experts explain how investors should look at hashrate, their 2022 outlook for bitcoin and alt-coin alternatives to consider.
Bitcoin’s hashrate metric hit an all-time high on January 2, according to data from analytics tool Glassnode.
This is a milestone for the network and demonstrates the recovery following China’s ban on crypto mining in early 2021.
Many miners were forced offline as a result of the ban and estimates suggested Chinese miners made up about 75% of the world’s mining power.