{"id":421774,"date":"2020-04-24T17:30:04","date_gmt":"2020-04-24T17:30:04","guid":{"rendered":"https:\/\/ktsl888.com\/?p=421774"},"modified":"2020-04-24T17:05:19","modified_gmt":"2020-04-24T17:05:19","slug":"massive-bitcoin-miner-capitulation-could-act-as-launchpad-for-bull-market","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/massive-bitcoin-miner-capitulation-could-act-as-launchpad-for-bull-market\/","title":{"rendered":"Massive Bitcoin Miner Capitulation Could Act As Launchpad For Bull Market"},"content":{"rendered":"<p><a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a> 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.<\/p>\n<p>The mass capitulation is likely only to continue, as the cost of production will double overnight come May 12 when Bitcoin&#8217;s halving hits. The mass capitulation in the past has acted as a launchpad for each new bull run and the last round of capitulation could cause a repeat of the crypto hype bubble that put Bitcoin on the map.<\/p>\n<h2>BTC Hash Ribbons Point to Miner Capitulation Ahead of Halving<\/h2>\n<p>Many crypto investors have since written off that halving as a bullish event, ever since <a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a> did the unthinkable and plummeted over 50% to under $4,000 on <a href=\"https:\/\/www.cnbc.com\/2020\/03\/12\/stock-market-today-live.html\" target=\"_blank\" rel=\"noopener nofollow\">Black Thursday last month<\/a>, due to the pressure of coronavirus panic.<\/p>\n<p>The selloff crushed stocks, commodities, crypto, and more. It also cut Bitcoin price down so low, the crypto asset began trading at price below the cost for most miners to produce each BTC through a process called mining.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/ktsl888.com\/2020\/04\/21\/crypto-countdown-exactly-three-weeks-remain-until-the-bitcoin-halving\/\">Crypto Countdown: Exactly Three Weeks Remain Until The Bitcoin Halving<\/a><\/strong><\/em><\/p>\n<p><a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a> miners take on energy costs and upfront costs of equipment to generate more and more BTC. It is only profitable when the cost per BTC is higher than the cost of production.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-421798\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/04\/Screen-Shot-2020-04-24-at-12.05.00-PM.png?resize=860%2C387\" alt=\"bitcoin price chart miner hash ribbon crypto halving\" width=\"860\" height=\"387\"><\/p>\n<p>During the latest crash, miners were better off <a href=\"https:\/\/ktsl888.com\/2020\/03\/16\/bitcoin-trades-below-production-cost-miners-are-better-off-buying\/\">buying Bitcoin off exchanges<\/a>, and it prompted many of the smaller time operations to shut off their machines, essentially waving the white flag and capitulating. This capitulation can be seen using an indicator called the <a href=\"https:\/\/ktsl888.com\/2020\/04\/09\/threes-a-crowd-final-bitcoin-miner-shakeout-points-to-an-epic-rally\/\">Hash Ribbons<\/a>, and they&#8217;re currently showing one of the most severe periods of capitulation yet.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-421799\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/04\/Screen-Shot-2020-04-24-at-12.04.40-PM.png?resize=860%2C387\" alt=\"bitcoin price chart miner hash ribbon crypto halving\" width=\"860\" height=\"387\"><\/p>\n<h2>Post-Capitulation Buy Signal Tends to Kick Start Each Bitcoin Bull Market<\/h2>\n<p>Hash Ribbons may be showing mass capitulation, but that may be a positive thing in the end for Bitcoin. Capitulation removes the weakest miners from the market, allowing more efficient miners who are less likely to sell at lower prices. These elite miners can afford to hold out until Bitcoin price is marked up during the next bull market to begin unloading their assets at a massive profit.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/ktsl888.com\/2020\/04\/11\/crypto-cycle-data-shows-bitcoin-on-pace-with-post-halving-bull-market\/\">Crypto Market Cycle: Data Shows Bitcoin On Pace For Post-Halving Bull Run<\/a><\/strong><\/em><\/p>\n<p>In the past, each time the Hash Ribbons signal calculation, a buy signal is issued after, and Bitcoin price skyrockets. During the previous bear market cycles, <a href=\"https:\/\/ktsl888.com\/2020\/04\/09\/threes-a-crowd-final-bitcoin-miner-shakeout-points-to-an-epic-rally\/\">miners give up three times according to the indicator<\/a>, before a bull market begins.<\/p>\n<p><a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a> price just caused miners to capitulate for the third time, and when the buy signal triggers, the next major crypto bull market could finally be here.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 production will double overnight come May 12 when Bitcoin&#8217;s halving hits. The mass capitulation in the past has acted as a launchpad for each new bull run and the last round of capitulation could cause a repeat of the crypto hype bubble that put Bitcoin on the map. BTC Hash Ribbons Point to Miner Capitulation Ahead of Halving Many crypto investors have since written off that halving as a bullish event, ever since Bitcoin did the unthinkable and plummeted over 50% to under $4,000 on Black Thursday last month, due to the pressure of coronavirus panic. The selloff crushed stocks, commodities, crypto, and more. It also cut Bitcoin price down so low, the crypto asset began trading at price below the cost for most miners to produce each BTC through a process called mining. Related Reading | Crypto Countdown: Exactly Three Weeks Remain Until The Bitcoin Halving Bitcoin miners take on energy costs and upfront costs of equipment to generate more and more BTC. It is only profitable when the cost per BTC is higher than the cost of production. During the latest crash, miners were better off buying Bitcoin off exchanges, and it prompted many of the smaller time operations to shut off their machines, essentially waving the white flag and capitulating. This capitulation can be seen using an indicator called the Hash Ribbons, and they&#8217;re currently showing one of the most severe periods of capitulation yet. Post-Capitulation Buy Signal Tends to Kick Start Each Bitcoin Bull Market Hash Ribbons may be showing mass capitulation, but that may be a positive thing in the end for Bitcoin. Capitulation removes the weakest miners from the market, allowing more efficient miners who are less likely to sell at lower prices. These elite miners can afford to hold out until Bitcoin price is marked up during the next bull market to begin unloading their assets at a massive profit. Related Reading | Crypto Market Cycle: Data Shows Bitcoin On Pace For Post-Halving Bull Run In the past, each time the Hash Ribbons signal calculation, a buy signal is issued after, and Bitcoin price skyrockets. During the previous bear market cycles, miners give up three times according to the indicator, before a bull market begins. Bitcoin price just caused miners to capitulate for the third time, and when the buy signal triggers, the next major crypto bull market could finally be here. &nbsp;<\/p>\n","protected":false},"author":517,"featured_media":421784,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[428,1144,6664,8080,66102,2989],"class_list":["post-421774","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-btcusd","tag-crypto","tag-halving","tag-hash-ribbons","tag-miners"],"acf":[],"yoast_head":"\n<title>Massive Bitcoin Miner Capitulation Could Act As Launchpad For Bull Market<\/title>\n<meta name=\"description\" content=\"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\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ktsl888.com\/news\/massive-bitcoin-miner-capitulation-could-act-as-launchpad-for-bull-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Massive Bitcoin Miner Capitulation Could Act As Launchpad For Bull Market\" \/>\n<meta property=\"og:description\" content=\"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\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ktsl888.com\/news\/massive-bitcoin-miner-capitulation-could-act-as-launchpad-for-bull-market\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2020-04-24T17:30:04+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-24T17:05:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/04\/bitcoin-mining-capitulation-space-shuttle-atlantis-1995240_1920.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1536\" \/>\n\t<meta property=\"og:image:height\" content=\"1920\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony &quot;El Toro&quot; 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Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \\\"The Bull,\\\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. 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