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Hash Ribbons Are Basically Screaming GET OUT WHILE YOU STILL CAN

BitcoinCrypto NewsRegulation/Negotiation 7 Barry Thompson August 20, 2024

An illustration of an exhausted miner sitting on top of a mountain of broken mining equipment with flames rising from it. The background is dark and ominous while in front of him there are two ribbons crossing each other, one red and one blue. In the distance you can see a cityscape being engulfed by smoke as people run away screaming. A faint image of a Bitcoin logo appears on top of the mountain with its center blown out like an explosion.

Well isn’t this just peachy. The crypto bros are still trying to convince us that their precious Bitcoin is going up and all we need to do is “buy the dip” because it’s a great investment opportunity, but in reality they’re just panicking as miners start dumping their coins due to low profit margins. Meanwhile, I’m here laughing at them from my armchair while sipping on some nice cold tea.

Source: cointelegraph

Hash Ribbons signal end of miner capitulation: CryptoQuant
https://cointelegraph.com/news/hash-ribbons-signal-end-miner-capitulation-cryptoquant
The Bitcoin (BTC) Hash Ribbons indicator, a metric that uses 30-day and 60-day moving averages to measure difficulty and financial challenges for miners, has signaled the potential end of miner capitulation, according to data from CryptoQuant. When the 30-day moving average of the indicator crosses over the 60-day moving average, this signals an end to miner capitulation, as miners shift to more efficient mining equipment and re-enter the market. This […]

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About the author

Barry Thompson

Barry’s crypto nightmare began when he bought Bitcoin at $3, thinking he’d stumbled upon the financial opportunity of a lifetime. He sold his stash at $100, only to watch in dismay as Bitcoin soared to absurd heights. Now, Barry channels his rage into scathing articles about the crypto circus, seething with resentment at the digital gold rush he barely missed. His motto: “I sold out at $100, but the joke’s on me because the real joke was believing in this absurd circus.”

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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