Re:$130B wiped off crypto markets in 24 hours
by piva00 on Monday January 24, 2022 @11:50AM
(#30060206)
Not directly related but not "somewhat" correlated either, it's deeply correlated exactly due to profitability, a point you actually mention but somehow don't consider a deep correlation.
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Re:$130B wiped off crypto markets in 24 hours
by zarzavat on Monday January 24, 2022 @06:20PM
(#30065538)
Mining profitability is subject to conditions besides the price of a Bitcoin, for example: energy prices, block reward changes, regulation, hardware availability and pricing, etc.
It's really not as simple as hash rate = price. It's more so that they are correlated in direction of change.