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RE: Bitcoin just had its second largest drop in mining difficulty, ever
I laugh when people say that hash rates drive the price. No, hashrates are a response to the price.
I laugh when people say that hash rates drive the price. No, hashrates are a response to the price.
Yep. It was interesting that the hashrate continued to increase basically all of 2017 and 2018 even during price pullbacks. This is the first time miners are finally turning off the machines.
Proof that the miner's drive the price concept is hogwash ;)