VanEck has identified a 4% decline in Bitcoinโs hashrate, marking it as a historically bullish signal for BTC price, persisting since 2014.
The decrease suggests potential price rebounding, as historically, such drops have preceded positive returns, contrasting with the recent 9% BTC price dip.
VanEck analysts identify a 4% decline in Bitcoinโs hashrate as a bullish signal for BTCโs price.
This signal is based on historical patterns since 2014, suggesting drops in hashrate may lead to positive forward returns.
VanEck Cites 4% Hashrate Drop as Bullish
VanEck analysts identify a 4% decline in Bitcoinโs hashrate as a โbullish signalโ for BTCโs price. This signal is based on historical patterns since 2014, suggesting drops in hashrate may lead to positive forward returns.
VanEck, a major asset manager, analyzed the current hashrate drop without citing specific individual analysts. The report indicates a potential trend, predicting future BTC price moves that align with past responses to similar hashrate declines.
Miner Capitulation Tied to BTC Price Weakness
The hashrate decline links to miner capitulation due to recent BTC price weakness. Analysts suggest a possible rebound as historical data shows positive returns following 30-day hashrate drops, contrasting with current market sentiment.
While financially noteworthy, there are no direct regulatory or technological outcomes associated with the hashrate change. Historical evidence suggests that these drops, seen as contrarian signals, could mark positive turns for Bitcoin valuation in ensuing months.
Historical Hashrate Drops Linked to BTC Gains
Since 2014, Bitcoin has seen similar hashrate declines, leading to positive market impacts. Notably, 65% of 30-day contraction instances since 2014 have resulted in 90-day positive returns for BTC, according to the analysis.
Experts predict positive outcomes based on historical parallels. Analysts at Kanalcoin emphasize the significance of data-backed trends, noting the typical trajectory of Bitcoin prices post-hashrate declines, and propose cautious optimism for stakeholders.
A recent 4% decline in Bitcoinโs hashrate has historically acted as a bullish contrarian signal for BTC price, where such drops often precede positive forward returns.
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