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?

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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.

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.

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As Edwards yesterday, 19. November on Twitter, is just entered this death cross now.

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.

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.

More:

My Two Sats: What UTXOs in Bitcoin? Bitcoin vs. the environment: New study refuted allegations against Mining farms Canaan: the First Chinese Mining company is pushing on US exchange #Bitcoin#Halving#Mining

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