Does hash rate follow price or does price follow hash rate?

Experts have differed on the correlation between the price of BTC and the Bitcoin network’s hash rate. With the hash rate touching all-time highs in the last two weeks and subsequently slumping can we expect the BTC price rally to continue?


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Bitcoin (BTC) $ 28,082.52 3.62%
Ethereum (ETH) $ 1,688.97 0.78%
Litecoin (LTC) $ 67.03 0.90%
Bitcoin Cash (BCH) $ 251.28 6.87%