Bitcoin’s Hash Rate Really Bullish For The Market ?

Bitcoin’s hash rate hitting all-time highs…King Bitcoin’s network is stronger than ever…


Bitcoin’s Booming Hash Rate Is Really Bullish for the Market: Here’s Why

“In December, Charles Edwards and the team at investment firm Capriole Investments (@caprioleio) detailed the Bitcoin energy value equivalence. This highlighted the metric’s seeming correlation with Bitcoin’s trading price and volume.

The basic premise is that energy, raw Joules alone, can be used to estimate Bitcoin’s fair value; meaning increased energy input increases the fair value of a Bitcoin.

According to this model, each coin had a fair value of approximately $11,500 on December 12 — 50% higher than the current trading price at that time.

According to Edwards, Bitcoin’s price and energy value trend towards each other like magnets. And while deviations between the two can and do exist, they have always closed with time.”

Master Asked on January 20, 2020 in Bitcoin.
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