Matrixport: The rise in hash rate indicates a positive outlook for Bitcoin
Matrixport stated that the rebound in hash rate indicates a positive outlook for Bitcoin. The institution analyzed that the Bitcoin mining hash rate has always been an indicator of Bitcoin price increases, as shown a year ago, it predicted the decline of Bitcoin in May 2024. Recently, some miners have shut down their equipment due to poor profits. However, the rebound in hash rate suggests that miner pressure may be limited. Even so, miners' daily income is still very low at only $32 million, while income around April 20th's halving day in 2024 was $73 million.
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