Bitcoin (BTC) Hash Ribbon Indicated BUY now

What is the Hash Ribbons Indicator?

The Bitcoin Hash Ribbon indicator tries to identify periods where Bitcoin miners are in distress and may be capitulating. The assumption is that such periods can occur when the price of $BTC is at major lows, and may therefore present a good opportunity to buy the dip.

The role of miners is to secure the Bitcoin network and to process every Bitcoin transaction. There can be periods after the price of bitcoin rallied and then aggressively pulled back that some miners struggle to financially continue in the short term. When this happens they turn off their mining rigs.

As the author of this indicator Charles Edwards states in his article Hash Ribbons & Bitcoin Bottoms, “When miners give up, it is possibly the most powerful Bitcoin buy signal ever”.

This indicator does not try to time the perfect bottom in price. Rather it shows periods where Bitcoin mining rigs are being turned off due to the challenging market conditions, causing drops in hash rates. These can often be areas of macro bottoms in Bitcoin price.

For a strategic long-term Bitcoin investor, these periods can be favorable times to accumulate Bitcoin and therefore present a buying opportunity.

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