Does the complexity of mining affect the value of Bitcoin? Does Bitcoin depend on certain indicators?

There are several hypotheses in the world that make it possible to forecast the price of a cryptocurrency such as bitcoin using its mining rates. Analytical experts from DataLight argue that investors should take such data into account when dealing with digital currencies. In 2019, the complexity of the bitcoin network increased by about 33 percent, and the value of this digital currency increased by almost 100 percent. Experts from the same company found a correlation between these indicators and came up with three hypotheses that help predict the value of Bitcoin. On the Internet resource, the experts wrote: “The 3 recent increases in the complexity of the Bitcoin network are clear harbingers of a rapid increase in the price of digital currency this year.” Experts believe that, based on one of these hypotheses, the network complexity and hashrate of digital gold increase immediately after its value rises, as most miners start mining. According to the second theory, which trader M. Kaiser believes in, since he bought bitcoin worth $3, everything has been going exactly the opposite. But the third hypothesis suggests that there is a formula between the indicators that you can create yourself after studying the history of changes in the complexity and price of the first digital currency. Experts from the DataLight analytical platform also pointed out that there is a certain correlation and dependence on mining, regardless of which theory is correct. This means that investors need to take into account the changing complexity of the mining network when dealing with cryptocurrencies.