RATE Group | New Bitcoin Indicator Based on Mining Activity Emerges, Where is BTC Heading?
56596
post-template-default,single,single-post,postid-56596,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

New Bitcoin Indicator Based on Mining Activity Emerges, Where is BTC Heading?

02 Aug New Bitcoin Indicator Based on Mining Activity Emerges, Where is BTC Heading?

Posted at 03:55h in Bitcoin News by

[ad_1]

Popular on-chain metrics analyst Willy Woo claims to have developed a Bitcoin price indicator that shows good opportunities to invest in the digital asset. He calls his discovery the “Bitcoin Difficulty Ribbon”.

The indicator looks at how mining impacts Bitcoin’s price. The analyst believes that miner capitulation in the wake of increasing difficulty reduces selling pressure and leaves space for bullish price action.

Willy Woo’s Bitcoin Difficulty Ribbon Indicates Miner Capitulation, Which May Lead to Higher Prices

Willy Woo, a Bitcoin on-chain analytics expert, has just announced that he has been exploring a potential new price indicator. The analyst looks at simple moving averages referencing Bitcoin miner difficulty. He states that this allows for an easy to view breakdown of how the difficulty of mining Bitcoin changes over time.

[ad_2]

Source link

Tags:
, , , , , , ,