as the price goes up less wiling to buy as cheaper to mine.
as the price goes down more wiling to buy and not mine
So, you mean there is a relation between the price and hashrate?
I believe the same way but according to this theory, time after time and by increasing the price of bitcoin there will be more willing to mine, right?
but you have to realise WHO increases what.. what causes what
if 99% are making profit. thats alot of sell pressure and not much buy pressure
only those with high costs of mining will see good value in buying
take germany with a current cost of mining way above $70k. they wont mine at home. they would prefer to save themselves ~$13k+ a coin and just buy it at $59k
in short
uk/us/china/iceland could happily sell as they can happily mine for profit
japan/italy are in a limbo between profit and loss
denmark, germany, portugal could happily buy as they see market price cheaper than mining cost
..
if hashrate increases. less will profit as the coins splits leave them with less due to more sharing out.
this increases their costs and makes more jump off mining and just buy..
or for the farms.. buy more while mining to support a price increase to keep their mining in profit