{"id":448758,"date":"2020-11-03T20:00:57","date_gmt":"2020-11-03T20:00:57","guid":{"rendered":"https:\/\/uniquehot.com\/?p=448758"},"modified":"2024-06-11T14:07:55","modified_gmt":"2024-06-11T14:07:55","slug":"bitcoin-hash-ribbons-trigger-rare-bull-market-capitulation-signal","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-hash-ribbons-trigger-rare-bull-market-capitulation-signal\/","title":{"rendered":"Bitcoin Hash Ribbons Trigger Rare Bull Market Capitulation Signal"},"content":{"rendered":"

An important fundamental health signal of the Bitcoin network<\/a> just crossed into “capitulation” territory, which in the past was associated with downside risk. However, the tool’s creator says that it wasn’t designed to give sell signals, and shouldn’t be interpreted that way.<\/p>\n

But because of how profitable its been used as a buy signal over the cryptocurrency’s history, it is difficult to ignore a sudden anomaly in the asset’s market cycle that has never in the past appeared. So what exactly is going on and why did this rare signal just trigger?<\/p>\n

What Gives? Bitcoin Hash Ribbons Signal Miner Capitulation As Bull Market Begins<\/h2>\n

There is no other asset on the face of the planet like Bitcoin<\/a>. Altcoins created in its honor, and even hard forks that as closely mimic the first ever cryptocurrency as possible can’t come close to its market share dominance and potential.<\/p>\n

Cryptocurrencies in general, share very few similarities with traditional assets like stocks. Due to this, the fundamental analysis<\/a> methods typically used to forecast company share pricing are useless.<\/span><\/p>\n

Instead, custom tools have been designed by experts like Charles Edwards that closely monitor specific Bitcoin network health metrics, such as hash rate, and more. Edwards also created the hash ribbons<\/a>, which in the past have acted as the ultimate buy signal for the top cryptocurrency.<\/p>\n

Its signals are few and far between, but it has notably provided the runway for the rally to Bitcoin’s all-time high, and again to $14,000 both recent attempts.<\/p>\n

\u00a0The hash ribbons indicator is signalling that miners are capitulating, but why? | Source: BTCUSD on TradingView.com<\/a><\/pre>\nOn average, hash ribbon buy signals result in roughly 5,000% return. But before the buy signal takes place, BTC miners must capitulate<\/a>, which the hash ribbons signal with a crossover to the downside.<\/p>\n
The tool’s creator warns that capitulation isn’t a signal to sell<\/a>, but is it foolish to ignore a signal that in the past has been associated with some of the cryptocurrency’s most signfiicant downside?<\/p>\n
\nReminder: Hash Ribbon capitulation is not a sell signal. <\/p>\n
It never was.<\/p>\n— Charles Edwards (@caprioleio) October 30, 2020<\/a><\/p><\/blockquote>\n