CryptoQuant Predicts Bitcoin Rally as Hashprice Hits Historic Lows

According to a recent analysis by CryptoQuant, Bitcoin may be on the brink of a major rally. The analysis is based on the Bitcoin hashprice, a key indicator of miner profitability, which has recently dropped to its lowest levels in history.

Historically, periods of low hashprice have coincided with Bitcoin price bottoms, followed by significant price increases. The current situation mirrors the market conditions of March 2020, just before Bitcoin began its rapid ascent following the COVID-19 market crash. CryptoQuant analysts believe this could be the beginning of Bitcoin’s next major rally, as miners continue to hold onto their reserves in anticipation of higher prices.