Bitcoin’s 16-Year History: Hashrate Surpasses 1-Zetahash as Bitcoin Price Hits $74.4K

Bitcoin is an innovative tool that has disrupted traditional financial methods since its foundation. Since its inception 16 years ago, Bitcoin has created many extraordinary events alternating with periods of extreme market instability. The Bitcoin cryptocurrency has reached its highest point ever in terms of hash rate by surpassing 1-Zetahash (ZH) in the past. Further, with the recent crypto market crash, BTC has experienced a steep decline, with its price falling to $74,460, a +10% drop in the past 24 hours. 

Bitcoin Hash Rate Soars to Historic Levels

The milestone represents a historic first because the Bitcoin network has surpassed 1 Zetahash for the first time in 16 years. The cryptocurrency makes history with this achievement as network strength continues to increase. The BTC blockchain network maintains greater security as the Bitcoin hash rate rises because this represents an additional layer of mining operations that deters potential threats to blockchain control. Recent estimates show that the Bitcoin Network has reached 1 ZH/s computing power, which exceeds 1,000 Exahashes per second, while maintaining a 1,000-fold growth since late January 2016. 

Image 1- Bitcoin Hashrate, published on BTC Frame on April 7, 2025

The latest tracking data shows Bitcoin continuously achieving new record-breaking hash rate figures, which represents how the network has matured with the 1-ZH threshold achievement. Bitcoin mining continues its growth trajectory despite environmental threats and regulatory pressure. The growing strength of the Bitcoin system demonstrates that its decentralized security and operational controls have strengthened with time while attracting evolving institutional participation.

An increasing Bitcoin hash rate shows that mining technology has become more efficient. Implementing better mining technology allows miners to execute more significant transaction volumes while protecting blockchain integrity and enhancing network security. 

Bitcoin Price Experiences a Significant Crash

The hash rate jumps higher as Bitcoin endures a major price decline in a recent crypto market crash. The market experienced a shock when prices took an unexpected dip, causing traders to struggle with the downfall. Bitcoin price is now down about 30% from its recent peak at $109, 000 reached in mid-January 2025.

Image 2- Provided by Emmaculate, published on TradingView on April 7, 2025

The recent market outlook shows prevailing bearish sentiment, as the sellers have the upper hand. The Bitcoin price has dropped below key moving averages, showing intense selling activities. The leading altcoin could drop to $74,461 if the recent selling pressure mounts. A deeper correction could send BTC to the $70,000 support zone. 

On the other hand, the technical indicators including the RSI, sit in the undervalued region. Its position at 34.17 shows oversold conditions in the Bitcoin market. In such a case, the bulls could initiate a buy-back strategy, rekindling a rally. However, a close above the $86,3995 mark could initiate a short-term bullish reversal. A break above the long-term MA at $86,807 could rekindle the buying pressure, invalidating the bearish outlook. 

The tremendous crypto market crash has caused investors to wonder whether we are experiencing a temporary price decline or entering a permanent downturn. According to experts who consider Bitcoin a long-term investment, Bitcoin maintains its potential to recover because decentralized technology adoption continues worldwide after the crash winds down.

How These Events Reflect Bitcoin’s Evolution

The historic rise in Bitcoin hash rate and the recent price crash are potent reminders of Bitcoin’s ongoing evolution. In its 16-year history, Bitcoin has experienced several extreme highs and lows, as shown by these events. The rapid increase in Bitcoin hash rate demonstrates that Bitcoin’s network has become stronger and more reliable while attracting more miners and institutional investors. Price turbulence exists in Bitcoin because the cryptocurrency remains subject to the natural volatility of digital assets, making investment in Bitcoin risky for participants.