Do you think the hash rate affects the price or the opposite? A higher price incentivizes more miners to enter. BTC miners in China had this coming for a while and should have been prepared. Some of them were not, though. It was an event that was discussed a lot especially in 2017 when China banned the exchanges. Moreover, there is often a supply shortage in ASICs, and manufacturing will also be affected. Bitmain had their local miners accommodated first and often sending bad batches out of China. Anyway, what I see is the hash power not being an indicator for the price to rise. It secures the network, but security didn't drop when the hashrate dropped to 2017 levels in May. It is just businesses entering a profitable field.

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