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Hash Ribbon Reversal Signals Bitcoin Miner Capitulation Phase

NewsBTC LogoNewsBTC2 mo ago

Hash Ribbon Reversal Signals Bitcoin Miner Capitulation Phase - NewsBTC

Quick Summary:

The hash ribbons – a technical indicator – has formed a so-called “death cross” that has previously indicated bitcoin miners buckling under pressure.

Will Clemente, an industry analyst, observed the signal stating that “we are potentially entering into a double dip miner capitulatory period.” A similar event occurred in June 2022 with the formation of a death cross after the collapse of Luna.

Related Reading: Litecoin (LTC) Continues To Impress With 25% Rally In Last Seven Days In the wake of these chaotic events in the past weeks, the market outlook has shown a high fear index.


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Article Details

Author / Journalist: Sarah

Category: Crypto

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-11-30 @ 13:47:56 (2 months ago)

News Timezone: GMT +8:00

Ranking: #654 (out of 6427 stories this day)

News Source URL: newsbtc.com

Language: English

Article Length: 543 words

Reading Time: 4 minutes read

Sentences: 49 lines

Sentence Length: 12 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 2059898

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Main Topics: Crypto

Official Website: newsbtc.com

Update Frequency: 4 posts per day

Year Established: 2013

Headquarters: United Kingdom

News Last Updated: 8 hours ago

Coverage Areas: United Kingdom

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #102

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