Matrixport: The rise in hash rate indicates a positive outlook for Bitcoin
Matrixport stated that the rebound in hash rate indicates a positive outlook for Bitcoin. The institution analyzed that the Bitcoin mining hash rate has always been an indicator of Bitcoin price increases, as shown a year ago, it predicted the decline of 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. Even so, miners' daily income is still very low at only $32 million, while income around April 20th's halving day in 2024 was $73 million.
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.
You may also like
Shuttle Pharmaceuticals delays shareholder special meeting to Sept. 9 from Sept. 3
Pundit to XRP Holders: This Is the Most Important Message You’ll Receive This Week
PSEG CEO Ralph LaRossa sells 2,083 shares for $153,034.72
HRT Financial disposes of 2,307 Zeta Network Group shares worth $3,714.27
Crypto prices
More
