RATE Group | Bitcoin Smashed 36% Most Cryptos Even Worse
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Bitcoin Smashed 36% Most Cryptos Even Worse

12 Mar Bitcoin Smashed 36% Most Cryptos Even Worse

Posted at 21:56h in Bitcoin News by

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Cryptos were smashed hard today. Bitcoin fell 36% the rest of the top 10 fell more.

Once again I point out the widely believed nonsense that price follows hash rate.

Hash Rate Hits Record

Please consider this January 2, 2020 post Bitcoin Kicks Off 2020 More Secure Than Ever as Hash Rate Hits Record

Bitcoin Hash Rate

Bitcoin vs Hash Rate

So are near record highs on the hash rate.

Bitcoin peaked at $19,783 on December 17, 2017.

It is now under $6,000.

Please stop the nonsense that Bitcoin follows the hash rate. Clearly it doesn’t.

Hash Rate Projections

Believe in the hash rate is likely what’s behind the $1,000,000 projections.

Since people still believe in the million dollar projections they are forced to believe in proven nonsensical hash rate theories.

Misunderstanding Supply

The fundamental issue behind both projections and hash rate theories is a huge misunderstanding of supply.

Contrary to popular myth, the supply of bitcoin rises every…

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