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Bitcoin mining difficulty just fell by a record 28% — But will this help BTC price recover? By Cointelegraph

Bitcoin mining difficulty just fell by a record 28% — But will this help BTC price recover?

(BTC) has recorded its biggest mining difficulty drop of nearly 28% on July 3, but one model suggests that the BTC price will not bottom until October.

In a series of tweets on July 2, investment manager Timothy Peterson flagged the relationship between Bitcoin price and hash rate as arguable evidence that the dip is not over.

Bitcoin network hash rate 7-day average. Source: Blockchain.com
Bitcoin hash rate ratio chart. Source: Timothy Peterson/ Twitter