When to SELL Your Altcoins: Complete Guide!! 📈

Contents

Bitcoin: indicators signal a recovery in quotes
CONTENT

  • Hash tapes help determine the optimal time to buy.

  • After the wave of miners surrender, the situation stabilizes.

  • Bitcoin hash rate recovers from last month crash.

International consortium of news organizations, developing transparency standards.

Certain technical signals and indicators show that Bitcoin has already bottomed out and entered a recovery phase.

Bitcoin: indicators signal a recovery in quotes

As sellers’ pressure eases, the threat of further surrender of miners decreases.

Bitcoin spent the weekend in a state of consolidation below the $ 7,000 mark, with signals on longer-term charts continuing to indicate an improved outlook for the cryptocurrency. If soon the token new cryptocurrencies types of tokens.

Bitcoin: indicators signal a recovery in quotes

They can represent value or something intangible like voices. Two … More will refrain from the formation of falling lows, the formation of a bullish picture will continue in the market, and this applies only to Bitcoin itself, but also to other coins.

The flight of miners is over

Cryptocurrency analyst Willie Wu uses so-called hash tapes as an indicator of market sentiment.

Bitcoin: indicators signal a recovery in quotes

Hash tapes include hashrate and mining difficulty of BTC to determine if miners have surrendered. This information provides signals of a potentially optimal time to buy during a bear market or after an aggressive market crash..

The difficulty of Bitcoin mining is updated almost every two weeks. In this case, the hash rate is calculated based on the actual number of blocks discovered by miners per day. Thus, the difficulty repeats the dynamics of the hash rate with a two-week delay and is a kind of lagging indicator of the surrender of miners..

Wu notes that during the market crash a few weeks ago, there was a capitulation of miners when Bitcoin plummeted by more than 50%, dropping from levels above $ 9000 to below $ 4000. At the same time, the expert emphasizes that he does not expect further downward pressure from miners..

A tale of 2 miner charts. #Bullish

Hash Ribbons recovering (assumes no lower low), a reliable bottom signal, probably some miner capitulation during the crash.

Bitcoin: indicators signal a recovery in quotes

They last got culled in Dec 2018, only the strong remain, I don’t expect miners to add more sell pressure from here. pic.twitter.com/t0GEqKCKjv

– Willy Woo (@woonomic) April 5, 2020

The graph shows that at the end of 2019, hash tapes signaled congestion. A similar pattern was observed after the crash last month, but since then, as the halving approaches, which is less than 40 days away, these signals have started to improve again..

Also in a tweet, Wu stressed that the ratio of Bitcoin’s market capitalization to energy consumption is in the buy zone..

Hashrate recovery

Since it bottomed out in March at 85 exahes per second, the hash rate has recovered 34%. On April 5, the rate was 114.48 exahshes per second, which is not far from the all-time high recorded on March 5..

Last week the editors of Beincrypto wrote, that a number of indicators indicate that bitcoin has already found the bottom and is now waiting for a further recovery.

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