Sign in

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
Bitcoin BTC
$ 70403.88

Timeline of Bitcoin

Claim Your 100 USDT Reward
Earn a limited-time reward by registering and starting your crypto journey now! Claim Reward!
Bitcoin Bitcoin
70392.2000 0.36%
Ethereum Ethereum
3575.82000 -0.10%
BNB BNB
586.141000 1.34%
Solana Solana
185.979000 -0.39%
XRP XRP
0.62002900 0.15%