BTC Miners are back to accumulating again

in #bitcoin5 months ago

Net sellers turned to net hodlers

The great migration of bitcoin miners out of China played a major role in the total network hashrate dropping by more 50% as well as the price dropping by more than 50%.

No matter how uncorrelated they may intuitive seem to be, price and hashrate have always been correlated.

Now that we are seeing a rebound in hashrate, does that mean the price will soon follow?



I'm thinking yes.

Though the price is still surprisingly weak as we are on the verge of going back below $33k after being up near $35k yesterday.


Thank You for sharing Your insights... on BTC.

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