{"id":611324,"date":"2024-06-04T08:50:17","date_gmt":"2024-06-04T08:50:17","guid":{"rendered":"https:\/\/ktsl888.com\/?p=611324"},"modified":"2024-06-11T07:01:58","modified_gmt":"2024-06-11T07:01:58","slug":"best-long-term-bitcoin-buy-signal-flashes","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/best-long-term-bitcoin-buy-signal-flashes\/","title":{"rendered":"Best Long-Term Bitcoin Buy Signal Flashes, Hedge Fund CEO Warns"},"content":{"rendered":"

In his latest dispatch, Charles Edwards, CEO of the Bitcoin and digital asset hedge fund Capriole, has flagged<\/a> a significant market indicator in the latest edition of the firm’s newsletter, Update #51. Edwards points to the activation of the “Hash Ribbons” buy signal, a notable event that has historically indicated prime buying opportunities for Bitcoin.<\/p>\n

Bitcoin Hash Ribbons Flash Buy Signal<\/h2>\n

The Hash Ribbons indicator, first introduced in 2019, utilizes mining data to predict long-term buying opportunities based on miners’ economic pressures. The signal arises from the convergence of short-term and long-term moving averages of Bitcoin\u2019s hash rate, specifically when the 30-day moving average falls below the 60-day. According to Edwards, this event has “in the vast majority of cases synced with broader Bitcoin market weakness, price volatility and significantly long-term value opportunities.”<\/p>\n

\"Bitcoin
Bitcoin Hash Ribbons | Source: Capriole Investments<\/figcaption><\/figure>\n

The current Miner Capitulation<\/a>, as highlighted by Edwards, began two weeks ago and coincides with post-halving adjustments in the mining sector. This period often leads to the shuttering of operations and even bankruptcies among less efficient miners. Edwards notes, “Just as we are seeing today, these mining rigs will typically then be phased out over several weeks following the Halving resulting in falling hash rates.”<\/p>\n

Despite the historical profitability of miners, especially with increased block fees from new applications such as Ordinals<\/a> and Runes<\/a>, Edwards suggests that the market should not overlook the current opportunity signaled by the latest Miner Capitulation. “While this capitulation is occurring when miners have broadly been profitable, we would be remiss not to note this rare opportunity,” stated Edwards.<\/p>\n

Related Reading: The Half-Million Dollar Bitcoin: Predictions Point To Monumental Price Surge In 18 Months<\/a><\/div>\n

The Hash Ribbons have not been without their critics, with each occurrence stirring debate about the current relevance and accuracy of the signal. Edwards addressed these criticisms by referencing the previous year\u2019s signal, which correlated with Bitcoin trading in the $20,000 range, reinforcing the indicator’s predictive strength. “Every occurrence brings some debate about their relevance today, or why the current signal perhaps doesn\u2019t count,” Edwards explained.<\/p>\n

Edwards recommends that the safest approach to leveraging the Hash Ribbons is by waiting for confirmation through renewed hash rate growth and a positive price trend. He concludes, “The safest (lowest volatility opportunity) to allocate to the Hash Ribbons strategy is on confirmation of the Hash Ribbon Buy which is triggered by renewed Hash Rate growth (30DMA>60DMA) and a positive price trend (as defined by the 10DMA>20DMA of price).”<\/p>\n

Broader Market Context<\/h2>\n

Transitioning from the technical to the contextual, Edwards discusses the changing regulatory landscape that has recently become more favorable to cryptocurrencies. The SEC\u2019s approval of an Ethereum ETF<\/a>, categorizing ETH as a commodity, marks a significant shift in the regulatory approach towards cryptocurrencies and reflects growing institutional acceptance.<\/p>\n

Related Reading: Is This The Biggest Bitcoin Bull Run Ever? Analyst Says Yes!<\/a><\/div>\n

“The reclassification of Ethereum and the approval of its ETF represent a pivotal shift in governmental stance on cryptocurrencies,” Edwards notes. “This could lead to increased institutional involvement and potentially more stability in the crypto markets.”<\/p>\n

Furthermore, Edwards points to macroeconomic factors<\/a> that could influence Bitcoin’s value. The expansion of the M2 money supply and the Federal Reserve’s stance on interest rates are designed to stimulate economic activity. However, Edwards warns of the potential long-term consequences of these policies, such as inflation, which could enhance Bitcoin’s appeal as a hedge against monetary devaluation.<\/p>\n

“Bitcoin was conceptualized as an alternative to traditional financial systems in times of economic stress,” Edwards remarks. “The current economic policies reinforce the fundamental reasons for Bitcoin’s existence and could lead to increased adoption.”<\/p>\n

On the technical front, Edwards provides an analysis of Bitcoin\u2019s price movements, highlighting the recent breakout and consolidation above critical resistance levels. He sets a conditional mid-term price target of $100,000, contingent upon the market sustaining its current momentum and the monthly close remaining above a critical threshold of $58,000.<\/p>\n

At press time, BTC traded at $69,008.<\/p>\n

\"Bitcoin
BTC price needs to break $69,500, 1-day chart | Source: BTCUSD on TradingView.com<\/a><\/figcaption><\/figure>\n
Featured image created with DALL\u00b7E, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

In his latest dispatch, Charles Edwards, CEO of the Bitcoin and digital asset hedge fund Capriole, has flagged a significant market indicator in the latest edition of the firm’s newsletter, Update #51. Edwards points to the activation of the “Hash Ribbons” buy signal, a notable event that has historically indicated prime buying opportunities for Bitcoin. Bitcoin Hash Ribbons Flash Buy Signal The Hash Ribbons indicator, first introduced in 2019, utilizes mining data to predict long-term buying opportunities based on miners’ economic pressures. The signal arises from the convergence of short-term and long-term moving averages of Bitcoin\u2019s hash rate, specifically when the 30-day moving average falls below the 60-day. According to Edwards, this event has “in the vast majority of cases synced with broader Bitcoin market weakness, price volatility and significantly long-term value opportunities.” The current Miner Capitulation, as highlighted by Edwards, began two weeks ago and coincides with post-halving adjustments in the mining sector. This period often leads to the shuttering of operations and even bankruptcies among less efficient miners. Edwards notes, “Just as we are seeing today, these mining rigs will typically then be phased out over several weeks following the Halving resulting in falling hash rates.” Despite the historical profitability of miners, especially with increased block fees from new applications such as Ordinals and Runes, Edwards suggests that the market should not overlook the current opportunity signaled by the latest Miner Capitulation. “While this capitulation is occurring when miners have broadly been profitable, we would be remiss not to note this rare opportunity,” stated Edwards. Related Reading: The Half-Million Dollar Bitcoin: Predictions Point To Monumental Price Surge In 18 Months The Hash Ribbons have not been without their critics, with each occurrence stirring debate about the current relevance and accuracy of the signal. Edwards addressed these criticisms by referencing the previous year\u2019s signal, which correlated with Bitcoin trading in the $20,000 range, reinforcing the indicator’s predictive strength. “Every occurrence brings some debate about their relevance today, or why the current signal perhaps doesn\u2019t count,” Edwards explained. Edwards recommends that the safest approach to leveraging the Hash Ribbons is by waiting for confirmation through renewed hash rate growth and a positive price trend. He concludes, “The safest (lowest volatility opportunity) to allocate to the Hash Ribbons strategy is on confirmation of the Hash Ribbon Buy which is triggered by renewed Hash Rate growth (30DMA>60DMA) and a positive price trend (as defined by the 10DMA>20DMA of price).” Broader Market Context Transitioning from the technical to the contextual, Edwards discusses the changing regulatory landscape that has recently become more favorable to cryptocurrencies. The SEC\u2019s approval of an Ethereum ETF, categorizing ETH as a commodity, marks a significant shift in the regulatory approach towards cryptocurrencies and reflects growing institutional acceptance. Related Reading: Is This The Biggest Bitcoin Bull Run Ever? Analyst Says Yes! “The reclassification of Ethereum and the approval of its ETF represent a pivotal shift in governmental stance on cryptocurrencies,” Edwards notes. “This could lead to increased institutional involvement and potentially more stability in the crypto markets.” Furthermore, Edwards points to macroeconomic factors that could influence Bitcoin’s value. The expansion of the M2 money supply and the Federal Reserve’s stance on interest rates are designed to stimulate economic activity. However, Edwards warns of the potential long-term consequences of these policies, such as inflation, which could enhance Bitcoin’s appeal as a hedge against monetary devaluation. “Bitcoin was conceptualized as an alternative to traditional financial systems in times of economic stress,” Edwards remarks. “The current economic policies reinforce the fundamental reasons for Bitcoin’s existence and could lead to increased adoption.” On the technical front, Edwards provides an analysis of Bitcoin\u2019s price movements, highlighting the recent breakout and consolidation above critical resistance levels. He sets a conditional mid-term price target of $100,000, contingent upon the market sustaining its current momentum and the monthly close remaining above a critical threshold of $58,000. At press time, BTC traded at $69,008. Featured image created with DALL\u00b7E, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":611326,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,84043,656,679,680,6848,1119,1122,60667],"class_list":["post-611324","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-hash-ribbons","tag-bitcoin-news","tag-bitcoin-price","tag-bitcoin-price-analysis","tag-bitcoin-price-prediction","tag-btc","tag-btc-price","tag-charles-edwards"],"acf":[],"yoast_head":"\nBest Long-Term Bitcoin Buy Signal Flashes: Hedge Fund CEO<\/title>\n<meta name=\"description\" content=\"Charles Edwards points to the Bitcoin"Hash Ribbons" buy signal, a notable event that has historically indicated prime buying opportunities.\" \/>\n<meta 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Through his extensive work with ktsl888.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. 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