Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
Matrixport: Hash rate rebounds, Bitcoin moves forward

Matrixport: Hash rate rebounds, Bitcoin moves forward

CointimeCointime2024/07/24 09:56
By:Cointime

Matrixport has released a chart indicating that the bitcoin mining hash rate has always been an indicator of the direction of bitcoin price increases. As was the case a year ago, the bitcoin mining hash rate predicted a bitcoin price drop in May 2024. Recently, some miners have shut down their equipment due to poor earnings. However, the rebound in hash rate suggests that the pressure on miners may be limited. Nevertheless, miners' daily income is still low, at only $32 million, compared to $73 million before and after the halving on April 20, 2024.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

US stocks slipped while bitcoin rallied on higher Treasury yields

Bitcoin may have traded like a safe haven asset Wednesday, but analysts warn the trend may not last

Blockworks2025/05/22 16:41

Bitcoin hits all-time high while Solana holds steady

Solana’s focus remains on fundamentals: stable usage, high yields, and expanding infrastructure

Blockworks2025/05/22 16:41

BUSDT now launched for futures trading and trading bots

Bitget Announcement2025/05/22 16:38