Price fluctuations may be an indicator of investor sentiment. Hashrate, though, is often seen as the better market number to watch in order to truly evaluate Bitcoin adoption, and recent hashrate statistics indicate that adoption continues to grow.

By all accounts, Bitcoin has had quite a tumultuous year. After starting the year more than 80% down from its all-time high, BTC recovered significantly before once again losing several thousands of dollars in value.

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For me, I think this could be another "unsure" prediction or analysis.

Although the hashrate of Bitcoin has increased significantly, this isn't guaranteed that Bitcoin will be having a big bull run when halving draws near. Remember that there are still scammers out there like PlusToken, lurking from the shadows, waiting to strike when BTC moons, then they dump a lot of their assets to bring the market down again.

I can't be sure if the increased hashrate of Bitcoin would really become "bullish" because the market today is so unpredictable. What do you guys think?