Matrixport: Hash rate rebounds, Bitcoin is making positive progress
Matrixport released a chart stating that the Bitcoin mining hash rate has always been an indicator of Bitcoin's price increase, as shown by the situation a year ago, where the Bitcoin mining hash rate predicted the drop in Bitcoin in May 2024. Recently, some miners have shut down their equipment due to poor profits. However, the rebound in hash rate suggests that miner pressure may be limited. Despite this, miners' daily income is still very low at only $32 million, compared to $73 million around April 20th, 2024 halving day.
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.
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