{"id":75654,"date":"2026-07-20T11:47:55","date_gmt":"2026-07-20T11:47:55","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/hash-power-doesnt-determine-bitcoins-price\/"},"modified":"2026-07-20T11:47:55","modified_gmt":"2026-07-20T11:47:55","slug":"hash-power-doesnt-determine-bitcoins-price","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/hash-power-doesnt-determine-bitcoins-price\/","title":{"rendered":"Hash Power Doesn&#8217;t Determine Bitcoin&#8217;s Price"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Brian Armstrong said July 20 that hash power leaving Bitcoin doesn\u2019t set its price, citing the currency\u2019s difficulty adjustment as his core argument.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Bitcoin\u2019s difficulty fell 5% to 127.17 trillion on July 11 after hashrate dropped 7.9% to 908 EH\/s in ten days.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Armstrong called $60,000 the bottom in June; 56.3% of roughly 27,000 poll respondents disagreed on July 14.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h2>The Argument<\/h2>\n<p>Armstrong made the case in a <a href=\"https:\/\/twitter.com\/brian_armstrong\/status\/2079022774677275076\" target=\"_blank\" rel=\"noopener noreferrer\">post on X<\/a>, wading into a debate that flared the same day after billionaire investor Chamath Palihapitiya argued that <span>bitcoin<\/span> bulls face two problems, i.e speculative <span>liquidity<\/span> drifting to prediction and equity markets, and mining energy being worth more if redirected to AI.<\/p>\n<p>\u201cInteresting point. The first one feels temporary. The second one more durable,\u201d Armstrong began, before rejecting the conclusion, writing:<\/p>\n<blockquote>\n<p>\u201cBut hash power or energy going to <span>Bitcoin mining<\/span> doesn\u2019t determine its price (the network difficulty adjusts if miners go offline to keep the same pace of block mining).\u201d<\/p>\n<\/blockquote>\n<p>The exchange arrives at a sensitive moment for the mining industry, given that analysts have described miners as abandoning the network for AI and high-performance computing contracts, repurposing power and cooling infrastructure originally built for mining rigs.<\/p>\n<h2>How the Difficulty Reset Works<\/h2>\n<p>Armstrong\u2019s technical point rests on one of the <span>Bitcoin<\/span> network\u2019s oldest mechanisms, where roughly every two weeks, the protocol retunes how hard it is to find a new block, so that blocks keep arriving about every ten minutes regardless of how many machines are competing. When miners unplug, the puzzle gets easier; when they pile in, it gets harder.<\/p>\n<p>That mechanism just fired in the miners\u2019 favor, with <span>Bitcoin.com<\/span> News reporting recently that the network\u2019s difficulty fell 5% to 127.17 trillion on July 11, its <a href=\"https:\/\/news.bitcoin.com\/bitcoins-14th-difficulty-reset-slashes-mining-pressure-by-6-7-trillion\/\">14th adjustment<\/a> of 2026 (after the <a href=\"http:\/\/www.bitcoin.com\/get-started\/what-is-bitcoin-hashrate\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">hashrate<\/a> dropped 7.9% in ten days to 908 EH\/s). The reset lifted hashprice, a measure of miner revenue per unit of computing power, by 12.5% to $31.1 per PH\/s, though it remains 37.2% below its October 2025 peak.<\/p>\n<p>In other words, the system absorbed the exodus exactly as designed, i.e. fewer machines, easier math, steadier economics for the miners who stayed. What the adjustment cannot do, Armstrong\u2019s critics might note, is manufacture demand, which is why he argues price is determined elsewhere.<\/p>\n<h2>The Bottom-Calling Continues<\/h2>\n<p>In June, Armstrong declared $60,000 the bottom for <a href=\"https:\/\/www.binance.com\/en\/price\/bitcoin\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">bitcoin<\/a>, and he has repeatedly described himself as \u201cas <a href=\"http:\/\/www.bitcoin.com\/get-started\/bull-market-vs-bear-market\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">bullish<\/a> as ever on <a href=\"https:\/\/www.binance.com\/en\/price\/bitcoin\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">Bitcoin<\/a>, and still long \u2014 as always,\u201d urging investors to judge the asset over full cycles rather than individual crashes.<\/p>\n<p>His own audience is not fully convinced because when Armstrong asked followers on July 14 whether the bottom was in, 56.3% of roughly 27,000 respondents said no. In any case, the next difficulty adjustment, due within days, will offer a fresh reading on whether the miner exodus is stabilizing and whether Armstrong\u2019s $60,000 line survives the test.<\/p>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/news.bitcoin.com\/brian-armstrong-hash-power-bitcoin-price\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways Brian Armstrong said July 20 that hash power leaving Bitcoin doesn\u2019t set its price, citing the currency\u2019s difficulty adjustment as his core argument. Bitcoin\u2019s difficulty fell 5% to 127.17 trillion on July 11 after hashrate dropped 7.9% to 908 EH\/s in ten days. Armstrong called $60,000 [&hellip;]<\/p>\n","protected":false},"author":3947362404,"featured_media":75655,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/75654"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362404"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=75654"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/75654\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/75655"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=75654"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=75654"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=75654"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}