Summer sparks Bitcoin miner capitulation: a recurrent seasonal trend

exchange68September 12, 2024

0 0 2 minutes read

Bitcoin’s Hash Ribbon, a renowned market indicator, has historically pinpointed promising buying opportunities, marking the end of miner capitulations. This shift aligns with a positive price momentum, as seen in past summers, including June 2020, May 2021, and June 2022. Now, an intriguing pattern has emerged: for the first time since the FTX collapse, the Hash Ribbon has inverted, indicating a significant drop in the hash rate. What does this mean for the future of Bitcoin, and how might it impact your investment strategy? Read on to discover…

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