Bitcoin ‘massive rally’ due as buy signal hits for 1st time in a year
BTC price breakout talk returns as the popular hash ribbons indicator goes from “capitulation” to “buy” for the first time in 2024.
Bitcoin should see an “explosive rally” next as miners exit their latest capitulation period.
The latest data from the hash ribbons indicator shows that the Bitcoin (BTC) price is now in long-term “buy” territory for the first time since mid-May.
Bitcoin hash ribbons track two moving averages of hashrate, which is the estimated combined processing power miners dedicate to the network.
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Author: William Suberg
