Bitcoin’s hashrate dropped 4% in December, signaling a potential price increase. Since 2014, BTC has seen positive forward returns 65% of the time after hashrate declines. Miner breakeven prices on popular rigs have fallen 35%. China’s mining shutdown contributed to the hashrate drop, with AI demand further impacting it.

Despite China’s mining crackdown, up to 13 countries support Bitcoin mining, including Russia, France, and Japan. Nation-states are still investing in mining activities, highlighting a global interest in the industry. The trend of countries supporting mining activities could influence Bitcoin’s hash rate and overall market dynamics.

Read more at Cointelegraph: Recent Bitcoin Miner Troubles Could Be Bullish for BTC Price