Hash Ribbons Spot The Bitcoin Price Bottom – Bitcoin Magazine


The question of whether the bitcoin price bottom is behind us is on the minds of many investors who are poised with the challenge: buy the dip or wait for a bigger one?

Financial predictions are seldom accurate, and that reality echoes in the bitcoin market as well. But since BTC trading typically follows four-year cycles of bull and bear markets, as the peer-to-peer currency navigates its way through its adoption cycle, many still try to time bitcoin tops and bottoms when making allocation decisions.

With that in mind, investors, traders and analysts have attempted to utilize different techniques to spot the bottom in price, including technical analysis (TA), sentiment, hash rate and even search popularity on Google. And this article will explore a more novel price indicator that relies on Bitcoin’s hash rate and its network of miners, known as hash ribbons.

This indicator could be valuable because it has proven reliable in spotting opportunistic entry points in bitcoin in the past from a risk/reward perspective, enabling investors to enter the market and buy low, before fear of missing out (FOMO) sets in. Though whether this accurately predicts the bitcoin price or not is another question.

Source link Bitcoin Magazine


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