Bitcoin is produced by spending energy and using hash rate.
Price is and should be directly proportional to Energy cost (approximated by crude oil cost)
Price should also be proportional to the Current hash rate.
Product of Hash Rate and Crude price has acted as a leading indicator in the past.
Price is and should be directly proportional to Energy cost (approximated by crude oil cost)
Price should also be proportional to the Current hash rate.
Product of Hash Rate and Crude price has acted as a leading indicator in the past.