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Bitcoin’s Hash Rate Will Continue Dropping; Here’s Why This is Bullish


Bitcoin's recent volatility did some severe technical damage to its market structure, and also led to mass capitulation amongst BTC miners, with the crypto’s decline from $10,500 to lows of $3,800 making it no longer profitable for many smaller mining operations. Miner’s ongoing capitulation is illustrated while looking towards Bitcoin’s hash rate, which has seen a significant decline over the past three weeks. The decline may be far from over, as a few simple factors seem to suggest that more miners may capitulate in the near-term. Bulls, however, may be pleased to learn that there’s a strong chance that this decline in hash rate may ultimately be a positive thing for Bitcoin’s price, with the capitulation of smaller miners potentially alleviating some of the selling pressure on the crypto.



Bitcoin’s Hash Rate Continues Dropping: Down 20% From All-Time Highs

Bitcoin’s hash rate – which represents the terahashes per second (TH/s) that are performed by the BTC blockchain – is often looked upon as an indicator of the cryptocurrency’s fundamental network strength. Its hash rate has declined significantly over the past few weeks in tandem with Bitcoin’s price, plummeting from its all-time high of roughly 125 million TH/s in early-March to its current levels at roughly 100 million TH/s – a 20% drop. Read More...