Quote from: Thefrolly on October 03, 2019, 09:27:25 AM

When there is an increase in bitcoin hash rate, it invariably means that a bull season is coming for bitcoin. The same thing will very likely happen to Ethereum and other top cryptocurrencies. Now Bitcoin price is still on its low, but it will come back with force. Yes, Bitcoin has been undervalued for some time now, and this would restore back its glory.

The low hash rate happened a week back was due to there was a big mining farm that closed operation suddenly which made the hash rate very low, but if it was true, then this is definitely one of the factor that contributed to its down trend but fortunately we are bouncing back to another peak in terms of hash rate but prices of bitcoin yet to bounce back.

Another recent factor which may contribute for another bull rally of bitcoin markets must be bakkt, I would not really say anything yet as regards it and I am surprised that it was when they came to the market that all these are just happening, but I think we will get over that very soon. I dont think that the president trump stand should be any factor to contribute to why bitcoin drop because people generally does not want Libra coin and this purpose makes it difficult for Facebook to really decide it launch. There is one particular factor that made the value of bitcoin drop suddenly which I am yet to find.