Yet another Bitcoin price model appears to have failed for the first time
The popular theory revolves around the assumption that Bitcoin tends to reach the bottom of a bearish cycle when miners capitulate.
The capitulation phase arrives when it becomes unprofitable to mine Bitcoin following a severe price correction, with miners being forced to switch off their equipment.by Charles Edwards, founder of Capriole Investments, back in 2019. It is based on two metrics: Bitcoin's hashrate — the total computational power of the network — and mining difficulty, a measure of how difficult it is to mine new cryptocurrencies.
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