BTC Price to Hashrate Delta Ratio with MA

Historically, Hashrate and Bitcoin prices have a strong correlation. When hashrate increases more than Bitcoin price, it indicates a rise in Bitcoin price soon.

This indicator uses the formula:
Price/hashrate delta ratio = period price delta / period hashrate delta

Whenever the ratio between the price and hashrate of Bitcoin is positive, it indicates that the price is increasing at a faster rate than the hashrate. This, in turn, means that Bitcoin is becoming more expensive compared to any variations occurring in the hashrate. Using the Price/Hashrate Delta ratio, we can determine whether Bitcoin is overvalued or undervalued in relation to the hashrate. This can be a helpful indicator for assessing the current market conditions.