![](\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMTIvMDE5YjQ4MGYtOTE0YS03NGQxLTk2YzktMDgyY2VmYzFmM2QzLmpwZw==.jpg\")
\n <\/p>\n\n \n <\/p>\n
Bitcoin has often surged after sustained hashrate drops, a trend that would provide much-needed relief to many struggling Bitcoin miners at current prices.<\/p>\n
Bitcoin\u2019s hashrate fell 4% over the month to Dec. 15, which could be a positive sign for the cryptocurrency\u2019s price in the months ahead as miner capitulation is \u201chistorically a bullish contrarian signal,\u201d VanEck analysts say.\u00a0<\/p>\n
\u201cWhen hash rate compression persists over longer periods, positive forward returns tend to occur more often and with greater magnitude,\u201d VanEck crypto research lead Matt Sigel and senior investment analyst Patrick Bush noted<\/a> in a report on Monday.<\/p>\n They noted that since 2014, Bitcoin\u2019s 90-day forward returns have been positive 65% of the time when the network\u2019s hashrate had declined over the prior 30 days, compared with 54% when the hashrate rose.<\/p>\n Read more<\/p>\n<\/p>\n If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n If you want to read more News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n\n