price doesn't follow hashrate actually, if you look at a correlation coefficient you'll see nothing. That's just some BS Max Keiser likes to say.
What's concerning to me is that the hashrate has gone parabolic. And that is unsustainable. All parabolas blow off, it's like a law of physics.
I would not at all be surprised to see a coordinated nation-state attack in 2025 that attempts to deadlock the network by cutting the hashrate to the point where not enough blocks are found for difficulty to adjust. This type of attack has been theorized since the early days and we may be on the cusp of seeing it now.
The central banking cartel rules the world. Bitcoin is an existential threat to their power. They will do everything, and I mean everything, that they can to stop Bitcoin.
Hopefully there are enough countries with hashpower that will oppose such a coordinated attempt to deadlock the network, but based on the fact that basically every government on Earth participated in the Covid crackdown on liberty I wouldn't be so sure.
To be clear, I suspect Bitcoin would survive such an attack, but it would likely take many years to recover. Imagine what happens if we go DAYS without finding a new block. Price would tank 90%, probably more. It would make the covid crash look like a shallow dip. Be prepared for Bitcoin's price on exchanges to be $1000, perhaps less. Perhaps zero.
Of course people will say "i'd buy all the bitcoin at that price" except that because the network is deadlocked you cannot withdraw that bitcoin and it's just stuck on the exchange.
The fees would be absolutely outrageous for the blocks that did get discovered so you would have no chance of getting into one.
Remember that difficulty adjusts every 2016 blocks. If you're getting 1 block every 12 hours it's going to take over 3 years until difficulty can correct itself. During that time all hell would break loose in the community.
It would not be pretty.