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Bitcoin Hashrate has been kind of an indicator as to what the market is thinking right now is it Bullish or is it Bearish and as of right now it seems to be moving slightly upwards. Now I am not saying that this is a Bullish sign but it does indicate that Miners are still on a Positive mindset even though the price of Bitcoin has been a little rocky lately. This is a metric that always keeps me calm as it is a metric that clearly shows the people's belief in Mining Bitcoin despite the price action so yeah I feel good seeing the Hashrate go up.
On the flip side, there is also the case to be made that as the Hashrate goes up so does the difficulty for mining Bitcoin which further decreases the profitability of the Miners. It truly fascinates me as to how the Mining Difficulty and the Hashrate are related and how the adjustment is made. It's quite simple and basic but at the same time, we never thought of things like that before Bitcoin and Bitcoin Mining came along so yeah I am very into it. There is also the fact that I did try Mining Bitcoin on my Potato PC when I was learning about things and then moved onto Cloud Mining to actually Mine some Bitcoins. But that is a story for another day. As of right now, I am mining nothing at all but I do hope and wish to Mine some Crypto in the near future as soon as possible.
