Bitcoin Hash Price at Historical Bottom: Is a New Bull Run Coming❓

The $BTC hash price refers to the income that Bitcoin miners earn per terahash (TH/s) they produce. The historical lows of the hash price indicate that mining revenues are low and therefore miners are facing increasing costs. This can indicate periods in the past when Bitcoin prices bottomed and then recovered.

For example, when the Bitcoin hash price hit bottom in 2018 and 2020, there were major price increases shortly thereafter. Due to the nature of Bitcoin, a decrease in the hash price can force many miners to stop their operations or increase efficiency. The decrease in mining difficulty can cause stronger players to remain in the game, affecting the supply-demand balance in the long run. These past examples are interpreted as a signal that Bitcoin may enter a recovery process again.

However, an important point to remember is that the past does not always reflect the future. The dynamics of the Bitcoin market are constantly changing, and drops in the hash rate can have different effects on future price movements.