@stewbits22
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Does hash rate follow price or price follow hash rate. Conventional opinion is hash rate follows price. The reason being as mining profits increase so does competition leading to higher hash rate. Most people don't know this is not always the case. In April, an accident at a coal mine in China was the cause of a big drop in hash rate. This was immediately reflected in the price of Bitcoin, which dropped up to 15% within a few hours.
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Though think of it the other way, FUD from China created a sell signal, and the price adjusted as the hash rate is affected as well, while smaller miners outside also turning off due to unprofitability.