Bitcoin Hash Ribbon Signal Confirms ‘Great Bull Run,’ Says Analyst
cointelegraph.com
The last time the Hash Ribbon indicator emerged was on April 25, when the price of Bitcoin hit $7,500. Source: Cole Garner, TradingView.com The basic theory of the Hash Ribbon indicator is that the Bitcoin market tends to reach a bottom when miners capitulate.
In his thesis published in October 2019, Edwards wrote: The indicator evaluates market sentiment and potential miner capitulation by using the 1-month and 2-month simple moving average of Bitcoin’s hash rate. The Hash Ribbon indicator possibly reemerged as Bitcoin went through a record high difficulty adjustment.
Read in Full: cointelegraph.com
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