Definition
Hash fee is outlined as the common estimated variety of hashes per second produced by the miners within the community.
The Hash Ribbon indicator reveals that the worst of the miner capitulation is over when the 30-day shifting common (MA) of the hash fee crosses above the 60-day MA (change from mild crimson to darkish crimson areas). Instances when this happens and the value momentum switches from unfavorable to optimistic have proven to be good shopping for alternatives (change from darkish crimson to white).
Fast Take
- On Jan. 20, Bitcoin (BTC) hash fee surpassed one other all-time excessive (ATH), outstanding to see in a bear market.
- Prior to now few weeks, BTC hash fee has skilled two remoted 20% drops in hash fee and has managed to get better.
- Hash fee has grown day by day in 2023 to date.
- The Hash Ribbon indicator has diverged and alerts the top of miner capitulation is a market indicator that assumes that BTC tends to succeed in a backside when miners capitulate,
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