# Bitcoin's hash rate is now again at all time highs!

So much for miner capitulation like many of the latest news articles would have you believe.

Hash rate seems very much tied to price action right now.

Any kind of positive price action and it goes back up, negative price action and it turns south.

Check out the latest graph:

https://i.postimg.cc/fyZBJRzY/download.jpg

(Source: https://bitcointalk.org/index.php?topic=178336.515360)

As you can see, we have turned back up and are making new highs yet again as of a few minutes ago.

# Miners trying to collect all they can before the halving?

People were taking note of the declining or sideways hash rate from a few weeks back and showing a bit of concern.

Not anymore.

They were mostly talking about how it was likely miners capitulating, throwing in the towel as prices drifted ever lower.

Their capitulation adding to the sell pressure and going to take prices to extremely low levels.

It appears the $7k-$7.5K is a very sensitive area as it relates to miners.

If we drift to the bottom of that range or go lower, miners are being forced to shut off the machines.

However, now being at the higher end of that range (and above it) like we've been for the past few days, the machines appear to get turned right back on.

Either way, zooming out a bit and looking at the higher lows in hash rate, it still looks like there was really nothing to worry about:

https://i.postimg.cc/YC8g8d2r/Bitcoin-hashrate.jpg

(Source: https://beincrypto.com/bitcoin-hash-rate-defies-miner-capitulation-prophecy/)

We have been seeing higher lows basically the whole time.

A small sideways breather was to be expected after such a sustained move higher over the last several months.

Overall, the trend has been overwhelmingly, 'up'.

# It will be interesting to see what happens to the hash rate once this next halving takes place

If miners are having trouble keeping the machines going at that $7k price point with the current block reward, what are they going to do when that reward gets cut in half?

They either need a price of 2x higher ($14k) and/or a dramatic drop in difficulty, or they may be forced to shut down.

Interesting times we are in.

With the halving now about 4 months away, things are likely going to get very interesting around here.

Stay informed my friends.

-Doc