Another Indicator That BTC May Soon Rise

TL;DR

• Sometimes when the Bitcoin hash charge bottoms out, so does the value of BTC – and proper now, it seems to be just like the Bitcoin hash charge has bottomed out.

Full Story

There’s tea leaves, there’s astrology, after which there’s the Bitcoin hash charge.

None of them are an ideal indicator of the longer term, however some imagine they’re fairly shut.

We don’t know an excessive amount of about tea leaves or astrology, however right here’s what the Bitcoin hash charge is:

The hash charge is a measure of the entire computational energy utilized by Bitcoin miners to course of transactions and safe the community.

(Which by extension signifies how straightforward or tough it’s to mine BTC).

Proper now, Bitcoin’s total hash rate has declined to 556 exahashes per second (EH/s), down from 658 EH/s in late Might.

Because of this, the Bitcoin community has routinely adjusted its block-mining issue down by 7.8%.

What does this all imply?

In brief, usually when the Bitcoin hash charge bottoms out, so does the value of BTC.

Lengthy story longer: if the value of BTC will increase, transaction charges may even enhance. As transaction charges enhance, mining turns into extra worthwhile, motivating miners to contribute extra computational energy, rising the Bitcoin hash charge.

Is a bottomed out hash charge an ideal indicator that the value of BTC is about to rise?

Completely not!

However we certain hope issues bounce again up.