BTC Hashrate reached a new high on September 15, how does it affect the price in the short term?

- The chart shows a common pattern of price increases (no more than 10%) followed by stronger selling.

- If this rally gets closer to 29k, without creating a new peak, it will confirm that the recovery from the 2023 bottom has ended.

- It is expected that BTC price will drop below 24k in the next 3-4 weeks.

- For more information, see previous articles about BTC Hashrate is a reliable early decline warning indicator.

- Note: The chart below is for Pro users, but the regular Hashrate chart is for everyone.