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.
Brilliant. I made two variants of this months ago, but didn't plan on releasing it until now. Then I looked it up and you beat me to it. Respect. People are forgetting core fundementals of the economics. Your script is a good reminder.
HenriqueCentieiro
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@ALG0RI7HM, thanks for the message :) How do you think the halving will impact the mining delta?