Bitcoin (BTC) Price and Hashrate Divergence May Set the Scene for a Potential Rally, Historical Data Shows

Consistent
with
this
pattern,
bitcoin
has
already
shown
signs
of
recovery,
gaining
about
$9,000
since
the
local
bottom
on
Sept.
6,
representing
a
15%
increase
in
value.
This
divergence
between
bitcoin’s
(BTC)
price
and
its
hash
rate
started
to
shape
up
in
July
and
then
persisted
into
early
September,
when
the
computing
power
of
the
network
reached
an
all-time
high
of
693
exahashes
per
second
(EH/s)
on
a
seven-day
moving
average,
while
bitcoin’s
price
was
near
$54,000.