💬 VanEck estimates that the capitulation of miners could indicate that a bottom is near.
In December, Bitcoin's hashrate fell by 4% month-on-month, its largest monthly decline since April 2024.
Historically, this is a bullish signal according to VanEck, who noted that since 2014, when the hashrate declines over 30 days, Bitcoin progresses in the following 90 days in 65% of cases.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
💬 VanEck estimates that the capitulation of miners could indicate that a bottom is near.
In December, Bitcoin's hashrate fell by 4% month-on-month, its largest monthly decline since April 2024.
Historically, this is a bullish signal according to VanEck, who noted that since 2014, when the hashrate declines over 30 days, Bitcoin progresses in the following 90 days in 65% of cases.