- ETH hashrate has gone up 77% since January 2020.
This is just FUCKING INSANE.
Usually when this happens price also rises with it, lets see if this will translate to a price increase.
hasnt hash traditionally followed price and not price followed hash?
Yes, If we see eth from 230 to 480 usd, bull pattern. When we see 480 to 310 usd, bear pattern, and we still see the hashrate increasing even with a lower price that means price will likely follow next few days. The more hashrate, the more competition, less likely mined coins will be dumped, increasing the price.