Q. Was the crash caused by the Sudden Hash rate Decrease?
cryptoquant.substack.com
Following our report yesterday on the BitMEX Withdrawal system as a core cause of the crash, we look into the validity of claims that hashrate is what caused the sudden drop in price. Data Source: CryptoQuant Many sources are claiming that the hashrate fall is the source of the drop in price. But hash rate acts as a lagging indicator following Bitcoin price. Its role as a factor in price is minimal. Looking at the hashrate chart overlaid onto the price chart, it is difficult to establish a correlation between the two.
Q. Was the crash caused by the Sudden Hash rate Decrease?
Q. Was the crash caused by the Sudden Hash…
Q. Was the crash caused by the Sudden Hash rate Decrease?
Following our report yesterday on the BitMEX Withdrawal system as a core cause of the crash, we look into the validity of claims that hashrate is what caused the sudden drop in price. Data Source: CryptoQuant Many sources are claiming that the hashrate fall is the source of the drop in price. But hash rate acts as a lagging indicator following Bitcoin price. Its role as a factor in price is minimal. Looking at the hashrate chart overlaid onto the price chart, it is difficult to establish a correlation between the two.