The $BTC hashrate has ended its downward trend and is showing a gradual increase.

Increased miner activity acts as a positive factor for the $BTC price.

Historically, $BTC has saw a bullish trend when the hashrate increase. Of course, the relationship works the other way around as well, miner activity increases when the price of $BTC rises.

An increase in hashrate means a rise in the mining cost, which signifies an increase in the value of $BTC.

Written by CW8900