You can argue with me on this statement, But it’s true. I have been following daily Hashrate for last three months, and also included in my daily bitcoin analysis on my twitter updates, What I found is pretty interesting – Price did follow Hashrate over 90% of the time. Hashrate could be used as a fundamental indicator to predict bitcoin price action which has close to 90% Accuracy. Let me share some price action examples with co-relation to hashrate.
- #1 6-7 Feb’19: Hashrate jumped, Price pumped the next day.
- #2 23 Feb’19: Hashrate dropped, Price dropped the next day.
- #3 14-15 March’19: Hashrate jumped, Price pumped the next day.
- #4 2 April’19: Hashrate jumped, Price pumped the next day.
- #5 9 April’19: Hashrate dropped, Price dropped a day after.
In most of the case, Bitcoin price follows Hashrate next day, but sometimes Price follows hashrate on the same day as well. I have given you a hint, You can try comparing historical hash rate charts with Bitcoin price charts to create your own results.
Follow my Daily Bitcoin updates at: https://twitter.com/hmalviya9
Hashrate has jumped over 25% yesterday, we have fair chance to see some positive price action in next 24 hours.
Subscribe To Our Newsletter
Join our mailing list to receive Cryptocurrency investing and trading recommendations to your mailbox.
You have Successfully Subscribed!
Subscribe to get notified on latest posts.