The Bitcoin price is still around 40% below recent highs. The situation literally forces investors to face the reality that the bull run may be over. The mega-selloff has shaken even the strongest hands – but those still in it could end up making huge profits.
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That’s because right now the most profitable buy signal in Bitcoin’s history is about to be triggered – and that’s despite the fact that things seem to be looking extremely bearish for crypto right now. Here you read what this means and why the last signal in each bull market is the strongest of all.
Bitcoin’s Hash Ribbons Show Miner Surrender
Bitcoin had its most profitable year ever and was able to triple its value within the first three months of the year. However, after a shocking increase, the market corrected, causing chaos among newcomers to the volatile asset class.
More than 50% was blown out of the Bitcoin price in just a few days after the local top-enough downward pressure to question whether it is the end of the bull market. Although several indicators speak in favor – but the broad masses deny any chance that this will happen: either $100,000 BTC or to 0.
But those with so-called diamond hands could end up with massive wins.
What the most profitable signal means for the bull run
The chart above shows the “hash bands” created by crypto fundamental expert Charles Edwards, which currently indicate that BTC miners are capitulating.
Miners are forced to sell their coins during sell-offs to fund operations. In theory, Edwards’ tool shows when that happens. It also has a very happy side effect: it is the most profitable buy signal in crypto history.
In the past, the last buy signal of each cycle led to another 8,000% and 3,500%, respectively. Each cycle had a series of buy signals before the grand finale – but it is the last signal that gives the indicator its profitable reputation.
Past buy signals from the current market cycle have all led to a massive uptrend: after the botton of December 2018, BTC rose by 300%, and the latest signal led to a yield of more than 500%.
Currently, Bitcoin is already at $35,000 per coin – and only now triggers this monumental buy signal. How much further could cryptocurrency rise?
The chart above shows an example of how” only ” an additional 1,000% is necessary to reach $300,000 per BTC – a return that is meager compared to what the hash bands have proclaimed ahead of time during past bull rallies.
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Text evidence: Bitcoin
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