Each Bitcoin bull market started with miner capitulation, says researcher

Mining difficulty could be an indicator for predicting BTC prices.

All three of the major bull runs in Bitcoin's history started after mining difficulty reached its bottom, meaning the market could see robust gains this year, says crypto researcher PlanB.Predicting Bitcoin bull runs with mining difficulty.

In a Twitter thread, the researcher explained how the past three major Bitcoin bull runs started when mining difficulty reached its bottom.

After each ATH #bitcoin price drops until a lot of miners aren't profitable.

Miners switch off hardware, hashrate drops, and difficulty adjusts downwards.

Over the past 10 years, each time Bitcoin mining difficulty reached its bottom a major bull run followed.

As Bitcoin's price hovered around $3,500 at the end of last year, when the mining difficulty reached 100 percent, it would mean its value could reach between $35,000 and $75,000 in the next couple of years.

The last two times Bitcoin reached its all-time-high after miner capitulation its price increased around 100 times, he explained.

Several experts in the mining industry told CryptoSlate that mining difficulty is a trailing, not leading indicator of Bitcoin prices.

As BTC prices increase or decrease mining difficulty adjusts accordingly-not the other way around.