I wonder what the next ~10% difficulty drop will do with the price, because that means even lower production costs and probably a lower price. I hope that I'm wrong but can't take anything for granted here currently.
it probably won't do anything to the price. miners are shutting down in reaction to the price crashing, not the other way around. the hash rate has been going inverse to price all year as miners overspeculated---now we're finally hitting their pain points and seeing some capitulation.
i don't think the market cares about hash rate---most investors don't even understand what it means. it's only miners that care.
Yup miners follow price and not that price follows miners. 2012 bottom happened two weeks after difficulty started and then stopped decreasing. 2015 bottom happened at time when mining difficulty stopped going up. Period of difficulty decreasing was short in 2012. So if that repeats we might have bottom around new year or in January.