Bitcoin Hashrate Increases ⅓in 2 Days — Will BTC Price Follow?

Bitcoin (BTC) hashrate has increased 33% in just two days while the price of Bitcoin trails behind. BTC price hashrate Bitcoin hashrate has exploded from 91,290,582 TH/s on April 4 to 121,029,181 TH/s on April 6.

Historically, Bitcoin hashrate and price have exhibited a very close relationship, with a 0.77 correlation. This relationship makes sense considering that the hashrate represents, on the one hand, the production cost of Bitcoin for the miners and, on the other hand, the overall security of the Bitcoin network.

Timeline of Bitcoin