Bitcoin overcame $ 12,000 and set a network hashrate record

This Monday, Bitcoin (BTC) reached a 13-month high of about $12,200. At the time of publicationthe first cryptocurrency continues to trade at local highs.

Today's movement has been largelydegree volatile. As you can see in the chart below, on most exchanges, bitcoin first rose from $ 11,900 to $ 12,200, then fell just as sharply below previous levels, after which it began to grow more steadily and consolidated above $ 12,000.

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“Games of whales. What could be better than dumping on a breakout and then re-pumping above $ 12,000? "writes analyst Josh Rager.

According to the Skew analytical platform, the volume of liquidations of contract positions on the BitMEX exchange against the background of these surges amounted to $ 24 million.

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At the same time, the Binance exchange was unavailable. Binance CEO Changpeng Zhao said that all problems have been fixed by now.

“Very high traffic. The autoscaling didn't do it a bit. There was a problem with balancing synchronization, solved. Also, there was a problem due to reaching the limit on web traffic, solved. Both the one and the other lasted for several minutes. Fortunately, bitcoin is still above $ 12,000. The next wave will be big. "- wrote Changpeng Zhao.

In addition, a new record was recorded for the average bitcoin hash rate over seven days. The value reached 129 EH / s for the first time, according to Blockchain.com data.

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The previous high was recorded at the end of Julyabout 127 EH / s. Bitcoin hashrate continues to rise after a sharp decline to 90 EH / s in May, when inefficient miners were forced to leave the network amid declining rewards due to halving. Over the year, the hash rate increased by about 85%.

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