Crypto Analyst: Falling Hash Price Points to BTC Price Bottom, Buying Opportunity Approaching
CryptoNewsTerminal Staff30 Aug, 2024
Crypto Analyst: Falling Hash Price Points to BTC Price Bottom, Buying Opportunity Approaching
CryptoQuant analyst Woominkyu observed a correlation between Bitcoin (BTC) price movements and the hash price, a measure of miner revenue per 1 TH/s. According to Woominkyu, past data shows that when the BTC price approaches a bottom, the hash price also tends to decline. The recent drop in hash price suggests that the BTC price may be nearing a bottom, presenting a potential buying opportunity for investors.