As I have established in previous posts, the hashrate and price of a cryptoasset are typically linked. As cryptocurrencies recover in 2019, it is worthwhile to evaluate the hash power of the leading cryptoassets to gain a sense of the mining community’s confidence in the future prospects each cryptoasset. In this post I evaluate the hash power of three leading cryptoassets Litecoin, Bitcoin, and Ethereum. I find that hashrates are diverging for Litecoin, Bitcoin, and Ethereum, indicating that Litecoin and Bitcoin will outperform Ethereum in the forthcoming bull market.
Litecoin has had the most remarkable hash-rate resurgence demonstrating that the mining community is extremely bullish on the future prospects of the crypto-asset. Litecoin will undergo a halving in August of 2019, and is hence experiencing an incredible surge in both its price and hash power.