Bitcoin’s obituaries continue to rise after the descending triangle resolved downwards, but, in fact, the coin is the strongest it has ever been. In case the 15 percent Bitcoin price drop was too much to handle for you, here are some Bitcoin stats to soothe your pain. (Hash Rate Stats to follow)
According to Twitter user Hans HODL, the yearly moving average of all BTC transactions has recently reached a new all-time high, which shows that Bitcoin isn’t exactly dying.
The same pertains to Bitcoin’s hash rate, which keeps printing new highs with more than 600,000 miners joining the network since June.
Ok, let’s check the hash rate. Maybe the miners quit mining or something? No, actually that’s at an all-time high as well. pic.twitter.com/Vx3Ao4sUNP
— Hans HODL (@hansthered) September 26, 2019
Lastly, Bitcoin is the only asset with a number of parabolic advances on the logarithmic chart, which means that you should probably ignore all the noise that is happening on daily price charts.