BTC Hashrate with smoothing
BTC Hashrate with smoothing - thanks to the recent integration of IntoTheBlock data into Tradingview, we can now effortlessly show Hashrate data on our chart.
One popular use for Hashrate is to buy when the 30 day moving average crosses above the 60 day moving average, signifying that miner capitulation is over and recovery has started.
Definition
The Bitcoin hash rate is the number of times per second that computers on the Bitcoin network are hashing data to verify transactions and perform the encryption that secures the network. The hash rate is an indicator of how healthy the Bitcoin network is at any given time, and is driven primarily by difficulty mining and the number of miners. Generally, a high hash rate is considered a good thing.
More precisely, the Bitcoin hash rate is the number of times per second that computers on the Bitcoin network are hashing data to verify transactions and perform the encryption that secures the network.
One popular use for Hashrate is to buy when the 30 day moving average crosses above the 60 day moving average, signifying that miner capitulation is over and recovery has started.
Definition
The Bitcoin hash rate is the number of times per second that computers on the Bitcoin network are hashing data to verify transactions and perform the encryption that secures the network. The hash rate is an indicator of how healthy the Bitcoin network is at any given time, and is driven primarily by difficulty mining and the number of miners. Generally, a high hash rate is considered a good thing.
More precisely, the Bitcoin hash rate is the number of times per second that computers on the Bitcoin network are hashing data to verify transactions and perform the encryption that secures the network.
Release Notes:
As IntoTheBlock has shown to be unreliable, this updated version of the script queries data from Glassnode instead.
Release Notes:
Script updated to have a selectable data source, options: IntoTheBlock, Glassnode. Default: IntoTheBlock.
Script will now overlay the Hashrate curve over the chart by default instead of creating a new panel.
Script will now overlay the Hashrate curve over the chart by default instead of creating a new panel.