Bitcoin price continues to consolidate above $9,000 but has repeatedly failed to break above $10,000. The lower the asset’s value gets, the more it falls below the cost of production for many miners.A key metric measuring the impact price action has on miner operations, is signaling that more miners are capitulating during the current price…
Hash ribbons, an indicator used to depict the health of Bitcoin miners powering the network, has just signaled capitulation for an unprecedented 4th time in this market cycle. And according to the tool, post-halving miner capitulation may have only just begun.Bitcoin Miners Are Capitulating Due To Post-Halving Production CostsAs a failsafe mechanism ensuring the long-term…
Bitcoin is the best investment of 2020, up more than 150% year-to-date during a year filled with more uncertainty than ever before. That same uncertainty has helped bring the cryptocurrency back to prices near $20,000. And rather than rejection and bear market this time around, Bitcoin’s most profitable buy signal ever has just triggered, suggesting…
The collapse of FTX triggered a historic event for the Bitcoin market. In late November, the hash ribbons indicator signaled the beginning of a second wave of Bitcoin miner capitulation within one cycle. As NewsBTC reported, the hash rate dropped dramatically while some of the largest miners reported bankruptcy and dumped their BTC holdings on…
Bitcoin just had its largest 48-hour pullback since May 2020, back when the asset’s halving took place. The drop in price has the cryptocurrency now trading below a key fundamental level. A deeper dive into other Bitcoin fundamentals may be hinting that a more severe correction that may have only just started. Here’s what the…
Bitcoin price is once again trading at a level at which miners are making a profit from operating their expensive mining machinery, however, lower prices are still causing capitulation amongst the weakest miners with access to more expensive energy sources than the most elite.The mass capitulation is likely only to continue, as the cost of…
Bitcoin price was slashed in half during the month of May, leaving today as the last day for bulls to make a stand and undo the worst monthly on record. Even if the blood stain is left behind on the price chart for good, that doesn’t mean bulls still can’t pull off an upset and…
After the block reward halving in May, Bitcoin’s mining ecosystem was immediately thrown into disarray.The revenue of miners was effectively halved overnight, forcing many miners with tight profit margins to go offline as they could not maintain a positive cash flow in the wake of the event. This resulted in a slowdown in transaction speeds…
Ash is a dedicated crypto researcher and blockchain enthusiast with a passion for diving deep into the evolving world of decentralized technologies. With a background in writing and a natural curiosity for how digital assets are shaping the future, he has immersed himself in various sectors of the cryptocurrency space, including decentralized finance (DeFi), NFTs,…