Hash ribbons, an indicator used to depict the health of Bitcoin miners powering the network, has just signaled capitulation for an unprecedented 4th time in this market cycle. And according to the tool, post-halving miner capitulation may have only just begun.
Bitcoin Miners Are Capitulating Due To Post-Halving Production Costs
As a failsafe mechanism ensuring the long-term health of the Bitcoin network, the halving is designed to not only reduce supply but purge the network of smaller time miners.
When the supply is suddenly reduced with each halving, the cost of production essentially doubles overnight. Miners whose operating expenses outweigh the revenue being generated close up shop, and sell remaining holdings to avoid significant loss.
Related Reading | Three’s a Crowd: Final Bitcoin Miner Shakeout Points to an Epic Rally
During each and every previous Bitcoin market cycle consisting of an uptrend leading to a top and bear market bottoming process, there were three distinct periods where miners that secure the network capitulated.
This time around, miners are capitulating for an unprecedented fourth time, according to an indicator called Hash Ribbons.
Bitcoin‘s Hash Ribbons signal capitulation, and when it occurs, it later issues among the most historically profitable buy signals when the network returns to a healthier state.
At that point, the weakest miners are gone, and what’s left are more efficient miners that are able to hold onto any newly mined Bitcoin until the next bull market.
While a fourth capitulation event is unprecedented, the third, and previously final capitulation has always occurred following each halving.
During this cycle, the Black Thursday selloff that sent Bitcoin to under $4,000 and rocked the stock market, was a black swan nobody saw coming and caused a third capitulation event.
This post-halving capitulation is more in line with past cycles, and may – as it has shown in the past – create the final opportunity to buy at low prices before the asset’s next bull market.
But how low could it go, and how long could capitulation last? Looking at past miner capitulation periods, they typically last roughly one month. This entire time isn’t limited to the downside, however, the downside at the start is often severe.
The longest stretch recorded of miner capitulation was back when Bitcoin was trading at $6,000 in November 2018. Later, the asset fell to $3,000 and traded within that range for months while accumulation took place.
Related Reading | Bitcoin Trades Below Production Cost, Miners Are Better Off Buying
Miners spent nearly three full months capitulating, then in January the Hash Ribbons issued a buy signal. Less than 6 months later, the cryptocurrency was trading once again at $13,000.
When the Hash Ribbons finally signal to buy again, it could very well be the last time to buy Bitcoin at these lower prices before its next bull market truly begins. origin »
According to a crypto analyst, Bitcoin (BTC) may be heading towards a capitulation due to tightening on-chain liquidity. However, this capitulation could be followed by a “full bull” market.
Bitcoin prices are back below $20,000 again as capitulation continues but the actual market bottom of this bear cycle could be a couple of months away.
The post ‘Bitcoin Investors Not Out of the Woods Yet,’ Analysts Predicting Further Capitulation appeared first on BeInCrypto.
Certain technical signals and indicators are suggesting that Bitcoin has already bottomed and is in recovery mode. There is unlikely to be much further miner capitulation as selling pressure wanes.
Following a little momentum last week Bitcoin spent most of the weekend consolidating. It has been pretty flat for the past fortnight and analysts are now considering the unpopular premise of a final capitulation approaching which would mirror movements from this time last year.
According to a cryptocurrency market analyst, the current Bitcoin price trend looks similar to when BTC crashed by more than 50 percent in November 2018. In a tweet, Bitcoin Jack said: “This is starting too look awkwardly similar to the 6K -> 3K capitulation setup.
There is no doubt that the crypto industry hasn’t been doing too hot over recent months. Since topping in June, Bitcoin (BTC) has collapsed by over 40%, falling from $14,000 to $7,800, where the cryptocurrency sits as of the time of writing this.
Bitcoin price has had a very positive week on the back of probably its worst one this year. Since Monday’s dip, BTC has gained 18% to current prices. Chart patterns and the lack of a major capitulation could indicate that the bottom is in and the only way is up from here.
Bitcoin continues to crank higher as we end the weekend rounding out a week of gains. The move has led analysts to question whether the dump to $6,500 was the bottom and a trend reversal has finally begun.
When bitcoin starts to turn south and the selloff intensifies, fingers start pointing. The crypto community wants to blame something and the mainstream media wants to sensationalize fearful headlines to get their clicks.
Recently, cryptocurrency advocates have been discussing the upcoming halvings set to happen on the BTC and BCH blockchains in six months or less. Since crypto prices have been heading southbound, the SHA256 consensus hashrate continues to remain relatively unfazed and data stemming from freshly minted coins shows miners have been stockpiling.
Market sentiment seems to have taken a thrashing from Bitcoin’s latest capitulation, but institutional investors may be committing themselves to BTC now more than ever. The Crypto Fear & Greed Index, an aggregate of various social and technical indicators measuring sentiment in the crypto market, has lurched towards “extreme fear” in tandem with Bitcoin’s month-long […]
The post Spare us the BTC obituaries, institutional interest in Bitcoin is on the up appeared first on CryptoSlate.
After incurring a bout of capitulation throughout the latter part of yesterday, Bitcoin (BTC) has been able to post a decently strong rally that has allowed it to recapture its position within the lower-$7,000 region, and its recent lows may ultimately mark a long-term bottom for the crypto.
If you have been on Twitter lately, the Crypto Community is all about “Miner Capitulation. ” While some belief this to not be good for Bitcoin others see it as a bullish occurrence for the leading cryptocurrency.
21 ноября цена первой криптовалюты вновь опустилась ниже $8000, не удержавшись выше психологического уровня поддержки. Некоторые обозреватели заявили, что так называемая капитуляция майнеров окажет сильное давление на котировки.
Miners Sing the Siren Song. . .
Lower lows and lower highs are setting in. BTC might be heading to the place where it all began, the $4,000 - $5,000 range. The reason for Bitcoin's current trajectory cThe post Bitcoin worth $17.
21 ноября цена первой криптовалюты вновь опустилась ниже $8000, не удержавшись выше психологического уровня поддержки. Некоторые обозреватели заявили, что так называемая капитуляция майнеров окажет сильное давление на котировки.
Dread it. Run from it. Bitcoin (BTC) miner capitulation arrives all the same. As spotted by Charles Edwards, a cryptocurrency analyst, the Hash Ribbons — an indicator tracking the health of the Bitcoin network’s hash rate — has finally seen a bearish crossover, or “inversion,” after days and weeks of anticipation.
Both large and small-scale Bitcoin miners have been suffering in the past few months as the price has retreated and mining difficulty has shot up. It seems like a perfect storm for capitulation, which would likely further negatively affect the price of Bitcoin.
Bitcoin’s mining difficulty suddenly dropped. The move down indicates that inefficient miners are going out of business. The capitulation of weak miners is long-term bullish for the dominant cryptocurrency.
Last week, Crypto Twitter erupted with reports that “miners capitulated. ” Indeed, the Bitcoin Hash Ribbons — an indicator tracking the health of the network’s hash rate — saw a bearish crossover, with the short-term moving average crossing below a long-term one, signaling that miners have stopped expanding their farms.
Economists have long suspected a correlation between Bitcoin’s price action and its hash rate. Now, it appears there is a way to predict the market by looking at what happens when Bitcoin’s difficulty is negatively adjusted as hash rate drops.
The final nail was just put in the coffin of bulls. An indicator that tracks the health of the Bitcoin (BTC) mining ecosystem has just flashed bearish for the first time in a year, signaling impending capitulation.
Prior to its launch, Bakkt’s physically settled Bitcoin futures product was seen by many cryptocurrency investors as a potential major catalyst for next major BTC bull run, but its lackluster launch has come about concurrently with a bout of capitulation within the aggregated crypto markets.
Bitcoin bears have continued to flex their muscles into Monday morning. After closing the week at a massive loss, with BTC posting its worst performance since November 2018’s capitulation event, bulls failed to make their presence known.
Bitcoin (BTC) hasn’t had the best week. In fact, the cryptocurrency is set to close down some 20% on the week, which is one of the asset’s worst performances since the bearish capitulation seen in...
Mining difficulty could be an indicator for predicting BTC prices. All three of the major bull runs in Bitcoin’s history started after mining difficulty reached its bottom, meaning the market could see robust gains this year, says crypto researcher PlanB.
On-chain metrics analyst Willy Woo believes we may never see another $6,000 Bitcoin again. The trader bases his theory on his latest technical indicator, the Bitcoin Difficulty Ribbon. Woo argues that a miner capitulation he expects to see in 2020, along with the halving of Bitcoin supply next May, will “add more fuel to the.
Popular on-chain metrics analyst Willy Woo claims to have developed a Bitcoin price indicator that shows good opportunities to invest in the digital asset. He calls his discovery the “Bitcoin Difficulty Ribbon”.
Since the start of April 2019 when Bitcoin rallied over $1,000 in a matter of a few minutes, the first ever crypto asset has taken the market by storm, capturing the attention of all crypto traders, investors, and analysts – but at the expense of the altcoin market.
As Bitcoin price approached $14,000 just mere hours after breaking through $13,000, a violent flash crash occurred that knocked the price of the leading crypto asset by market cap down by more than $2,000 in seconds, and with it took out many top crypto exchanges.
The crypto market is an unusual one. The Wild West atmosphere, the volatility, and the 24/7, 365 trading provides little rhyme or reason, and often times Bitcoin and altcoins rise together, while other times they do not.
By CCN: “Alt season” is one of the most profitable phases of the cryptocurrency market cycle. It is a period when all altcoins – from large-cap to small-cap – go through exponential growth, often at the expense of bitcoin.
Bitcoin’s early April 2019 rally through resistance at $4,200 halted the ongoing altcoin season in its tracks, and following the latest upward move in Bitcoin price charts the value of altcoins both relative to BTC and USD have began to plummet – with some setting new bear market lows.
Bitcoin fund Adamant Capital is convinced that the bottom of the bear market is in, and true to its name, the firm has laid out an unwavering case for this position with some persuasive hard data and fundamental analysis.
There is no doubting that mood in surrounding Bitcoin and cryptocurrencies has lightened this month as markets finally moved off the bottom. Many analysts predicted a final capitulation down to $2,500 or lower but that seems like a distant memory now.
The inevitable pullback has started and crypto markets are beating a retreat at the moment. Bitcoin is leading them down as it drops back below $5,000 dumping 6 percent on the day. The question now is how low will it go? Minor Pullback or Major Correction? A number of analysts had predicted a major capitulation.
There have been two differing opinions on where Bitcoin prices will go next. Some are calling for an imminent pullback and possible final capitulation while others are confident that this is the beginning of the new bull market and it will be all up from here on.
Bitcoin has been treading water again and the last time that happened, in November at the $6,000 level, it was the prelude to a sharp fall. If that were true it would probably be good news for bitcoin as it would indicate that the final buyer capitulation required before there can be a sustained move […]
The post Bitcoin (BTC) Price Lift-Off Coming Into View As Capitulation Nears? appeared first on Ethereum World News.
Price predictions for Bitcoin have been coming thick and fast recently and some have been more accurate than others. One analyst still predicts a lot more pain for crypto assets and a final capitulation before things start to turn around.
Peter Brandt, the man who predicted the Bitcoin price dropping 85 percent in 2018, has appeared to call “capitulation” of the largest cryptocurrency. ‘Capitulation For A Time’ In a tweet, December 20, Brandt, who in January this year warned Bitcoin was heading to below $4000, reacted to this week’s sudden reversal of price declines across crypto markets.
The cryptocurrency markets posted slight gains over the weekend and have recovered slightly from last week’s dip that sent most cryptocurrencies, including Bitcoin, to fresh yearly lows. Despite the current price action being seen as capitulation by some investors, one analyst claims that the crypto bear market is still far from over.
Bitcoin has lost an important part of its value during this year, and it has plummetted even further during the last weeks. This is why the crypto community is asking when virtual currencies will reach the bottom of this market.
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The wild rollercoaster that is currently in a descending stage of the ride caused a lot of despair among less experienced bitcoin hodlers. The real capitulation is still not here but we are getting near to it with each passing day.
Bitcoin continues to tumble lower and lower as it struggles to claim any footing in the market. It’s down almost 50% in three weeks and it’s showing very little sign of stopping.
Bitcoin price is consolidating above the $95,000 support zone. BTC must settle above the $100,000 level to start a fresh increase in the near term. Bitcoin started a fresh increase from the $94,200 zone.
Bitcoin price started a fresh upward move above $100,000. BTC is facing resistance at $103,000 and might aim for an upside break. Bitcoin started a decent upward move above the $100,000 zone. The price is trading below $103,200 and the 100 hourly Simple moving average.
Bitcoin price settled above the $100,500 resistance zone. BTC is consolidating gains and might aim for a fresh increase above the $105,000 zone. Bitcoin started a downside correction from the $106,800 zone.
Bitcoin price started a short-term downside correction from the $106,250 zone. BTC is consolidating above $100,000 and might aim for a fresh increase. Bitcoin started a downside correction from the $106,250 zone.