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.

Conclusion

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.

Hitesh Malviya

Hitesh Malviya is the Founder of ItsBlockchain. He is one of the most early adopters of blockchain & cryptocurrency enthusiast in India. After being into space for a few years, he started IBC in 2016 to help other early adopters learn about the technology.
Before IBC, Hitesh has founded 4 companies in the cyber security & IT space.