Given recent trends, CryptoQuant analyst J.A Maartunn has shared an analysis that hinted at the potential rally of BTC moving forward.
“Hash Rate is one of Bitcoin’s most fundamental metrics. It measures the amount of computing power being contributed to the Bitcoin network, expressed in TH/s. Currently, it sits at an impressive 683 million TH/s,” he said in a post on X.
He also highlighted the sustained efforts of current Bitcoin miners to get in the game despite the challenges associated with mining the coin. This resolute pursuit of the remaining Bitcoin in circulation is one reason why he is bullish in the long term.
Companies around the world are making many gestures in line with their trust in Bitcoin’s price trajectory. Metaplanet has once again topped its bag with over 100 BTC, the same amount it has done over the past few months.
Besides direct acquisition, institutional buyers are also gaining exposure to BTC through spot Bitcoin ETF products in the U.S., the U.K. and Hong Kong, among other places.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
