Buy signal for Bitcoin appears from the Hash Ribbons indicator.

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The Hash Ribbons indicator has just issued a buy signal for Bitcoin, as the 30-day hash rate moving average crosses above the 60-day after a period of decline – a sign that miners have "given up," according to Charles Edwards' theory (2019).

According to analysis from 2024, this indicator has generated profits for about 2/3 of trades since 2013, with over 14 signals. CryptoQuant has also noted that drops in hash rate often lead to subsequent price increases, and the latest signal in 2025 could open up the next bullish cycle.

However, special macro factors – such as political volatility in the US – can affect accuracy, according to the assessment from Darkfost (4/2025).

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