The Bitcoin Hash Ribbon has turned out. This suggests the surrender of a large number of miners. But how justified is the fear of a slipping of the course?David-separator
20. November 2019 BTC $ 7,201.51 -9.15% part Facebook Twitter LinkedIn xing mail
With the Bitcoin course is there is such a thing. Long-time market observers will remember only too happy to parabolic Bull Run, which drove the growth of the course in exorbitant heights. Finally, the 2017 was the case: On the year measured, the crypto-currency no 1 recorded an increase of stunning 1.335 percent. Compared to this year's growth from the current level of affects "only" 119 percent low.
Bitcoin yearly candles pic.twitter.com/fIMttGUmDI
— Bitcoin Charts (@ChartsBtc) November 19, 2019
some of the fears already the re-entry into the bear market – reasons to give it enough.The Hash Ribbon is negative – and now?
These days, however, is dominated by a special kind of FUD (Fear, Uncertainty, Doubt). The speech is from the so-called Hash Ribbon. This is a relatively unknown measure that had published the Analyst, Charles Edwards, on Medium. Therefore, to be expected, especially with a negative rate Outlook, if more and more miners take their devices from the network. As a result, Miner auscashen finally mined BTC, rather than large amounts in Cold Storage to hold back, because you can't otherwise cover running costs.
This leads, according to Edwards, to a negative price pressure on Bitcoin and could tear up the course in the worst case, in the Deep. Anyone who wants to learn more about the Hash Rate-the death cross, it is at this point able to find.[view] buy Bitcoin with the Bitwala account. Why have a Bank account with Bitwala? A Bank account is “Made in Germany” with protection of deposits up to 100,000 euros; 24/7 Bitcoin trading with faster liquidity; trading only ‘real’ Bitcoin has no financial derivatives such as CFDs; Secure users of lift-off control of the Bitcoin Wallet and the private key; With the contactless Debit Mastercard worldwide, and pay.
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As Edwards yesterday, 19. November on Twitter, is just entered this death cross now.
We are now in a Bitcoin Miner Capitulation.
The only question now is:
How deep we go? pic.twitter.com/bo2GbdCpLP
Charles Edwards (@caprioleio) November 19, 2019
the bear market Threatens to now?
A similar scenario was last before the great surrender in November 2018. At the time, the price of Bitcoin broke the Support Level at about 6,000 US dollars, and fell to well to 3,200 US dollars. Also during this Phase of the bear market, there was talk of a Miner-surrender. This scenario is repeated?
most likely not. Because according to data of market observers PlanB on Twitter has shared, is of course pretty carefully at the course level, what the model predicts. If one also compares the current period with the past two Halvings, so the picture no longer looks so bleak.
Lot of FUD about miner capitulation. Fact is that 6 months before the 2012 halving we were above difficulty model value, in 2016, below, and now spot on. So, I am looking at +2% difficulty adjustment next Thursday. Cheer up! ????https://t.co/zMdxlteR6Z pic.twitter.com/8OcuVYp70l
PlanB (@100trillionUSD) November 19, 2019
a Lot of FUD to the surrender of the Miner. The fact is that we were six months before the Halving of 2012 on the Difficulty of the model value, of 2016, including and now, to the right place. Also, I reckon next Thursday with a Difficulty Adjustment of two percent. Head high!
In the run-up to the current market situation, the speech of a exorbitant rise in the Bitcoin Hash Rate to BTC-ECHO reported a record after the other. Apparently, the investment in new Mining Hardware were not particularly sustainable – Miner with a weaker Position on the market have to pay the bill.
For the overall market, but this is still no reason to panic.