What are the reasons why Bitcoin might move up after a hashribbon cross?

3 answers

• HAILE FIDADec 04, 2024 · 8 months ago
  Certainly! A hashribbon cross is a technical indicator that occurs when two moving averages of Bitcoin's hash rate cross over each other. This can indicate a significant change in mining activity. When a hashribbon cross happens, it suggests that miners are capitulating and selling their Bitcoin holdings, which can lead to a temporary drop in price. However, once the selling pressure subsides, it creates an opportunity for Bitcoin to rebound and move up in value. This is because the selling pressure from miners has been exhausted, and new buyers can step in to take advantage of the lower prices.
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• J-wJun 24, 2024 · a year ago
  Well, when a hashribbon cross occurs, it means that miners are selling their Bitcoin. This can create a temporary oversupply in the market, causing the price to drop. However, once the selling pressure eases, the market can stabilize, and buyers may see this as an opportunity to enter the market and buy Bitcoin at a lower price. This increased demand can then drive the price back up. So, one reason why Bitcoin might move up after a hashribbon cross is the renewed interest from buyers who see the lower prices as a buying opportunity.
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• Lundberg AliFeb 24, 2021 · 4 years ago
  After a hashribbon cross, there are several reasons why Bitcoin might move up. First, the selling pressure from miners has likely subsided, which means there is less downward pressure on the price. Second, the lower price resulting from the hashribbon cross may attract new buyers who see the opportunity to enter the market at a discounted price. Third, the market sentiment may shift as investors perceive the hashribbon cross as a temporary dip and expect the price to recover. Overall, these factors can contribute to Bitcoin moving up after a hashribbon cross.
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