The king’s return? After Bitcoin (BTC) has reached a new ATH at nearly $ 112,000 On May 22, the cryptocurrency course started a slight correction until around 105,000 dollars. Today, the indicator that interests us to try to anticipate the continuation, are the Hash ribbons. The latter have just given a purchase signal for the third time this year. Bitcoin en route for new heights?
- Bitcoin recently reached a historic summit at nearly $ 112,000 before experiencing a slight correction.
- The Hash Ribbons indicator gave a Bitcoin purchase signal for the third time this year, following a clear resumption of crypto-mining activity.
The indicator of Hash ribbons gives once again a buying signal on Bitcoin
The indicator Hash ribbons is based on the computing power (hashrate) network Bitcoin. He measures the Mobile average on 30 and 60 days of this hash rate. The indicator is used to determine the periods of stress or resumption for them cryptocurrency.
And when the mining market is in the recovery phase, this constitutes Purchase signals For the king of cryptos. And that’s what just happened. According to a analysis published on CryptocurrencyTHE Hash ribbons come from crosswith the mobile average over 30 days passing above of that at 60 days.
For The third time this year, the Hash ribbons gives a purchase signal, because this crossing indicates a Net recovery In the activity of crypto-mining on Bitcoin. And this therefore represents a long -term investment opportunity on the precious digital active.
While the indicator Hash ribbons Give a new purchase signal, it should also be noted that minors seem not only to continue Hodl (keep) their bitcoins, but even seek to buy even more next! Indeed, at the end of March, the crypto-mining company listed at Nasdaq Mara Holdings announced that he wanted to raise $ 2 billion to buy bitcoinvia the program issue.