Recent Bitcoin miner capitulation may signal bottom is near: VanEck - Source: CoinTelegraph

Bitcoin’s hashrate fell 4% over the month to Dec. 15, which could be a positive sign for the cryptocurrency’s price in the months ahead as miner capitulation is “historically a bullish contrarian signal,” VanEck analysts say. 

“When hash rate compression persists over longer periods, positive forward returns tend to occur more often and with greater magnitude,” VanEck crypto research lead Matt Sigel and senior investment analyst Patrick Bush noted in a report on Monday.

Story continues: https://cointelegraph.com/news/bitcoin-mining-woes-may-signal-bullish-price-action