우민규 Woominkyu
BTC Price VS Hash Price
From 2013 to 2023, Bitcoin's value soared due to its limited supply, rising demand, institutional interest, and its recognition as a global store of value. Conversely, the hash price, which can be thought of as a miner's income rate per unit of mining power, has decreased. This decline is attributed to heightened mining competition, technological efficiency in mining, periodic halving of Bitcoin rewards, and evolving energy costs. Historically, the duration between price rebounds for both Bitcoin and hash price has shortened over time. Given the current circumstances, a resurgence in Bitcoin and hash price would not be out of the ordinary, and could be expected in the near future. *Hash price reflects a miner's revenue per tera-hash contributed to the Bitcoin network. It's analogous to an hourly wage, but based on computational power rather than time*