Why is tracking Bitcoin’s hash rate growth important for understanding miner confidence?
Why is this the correct answer?
The hash rate measures the total computing power securing the Bitcoin network. When it climbs, it means miners are investing more resources into mining, confident they can cover electricity and hardware costs even if prices dip. For beginners, tracking mining network measured in hashes per second">hash rate growth is a way to gauge miner health and network security. A sustained increase suggests miners expect future profitability and trust in Bitcoin’s value, while a sharp decline could signal miner capitulation and reduced confidence.
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