According to crypto disclosure platform Xangle, crypto investors should pay close attention to Bitcoin’s hashrate as the halving event is just around the corner - especially since previous halving events show that price follows hashrate.
Xangle report states that Bitcoin hashrate has increased by more than 19,766% in a year since its first halving event in November 28, 2012. Price soared after, gradually increasing by 8,069%. The second Bitcoin halving in July 9, 2016 showed similar results – its price (+284%) followed the hashrate (+248%)
For such reasons, we must attend closely to BTC hashrate. However, this time there are several unexpected variables that might affect the upcoming hashrate, including the coronavirus (hashrate has decreased by 24% already).
Disclaimer
I confirm that I have read and understood the following: The information contained in this article is strictly the opinions of the author(s). This article was authored free from any form of coercion or undue influence. The content represents the author's own views and does not represent the official position or opinions of CrossAngle. This article is intended for informational purposes only and should not be construed as investment advice or solicitation. Unless otherwise specified, all users are solely responsible and liable for their own decisions about investments, investment strategies, or the use of products or services. Investment decisions should be made based on the user’s personal investment objectives, circumstances, and financial situation. Please consult a professional financial advisor for more information and guidance. Past returns or projections do not guarantee future results.
Xangle or its affiliated partners own all copyrights of the written or otherwise produced materials and content provided on the platform. Any illegal reproduction of such content, including, but not limited to, unauthorized editing, copying, reprinting, or redistribution will result in immediate legal actions without prior notice.
