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Hash Ribbon Buy
The Bitcoin Buy signal which occurs about once a year just fired.
Note: The halving is just 2 weeks away. Expect another signal within the next 3 months, like 2012 and 2016.
The Bitcoin Buy signal which occurs about once a year just fired.
Note: The halving is just 2 weeks away. Expect another signal within the next 3 months, like 2012 and 2016.
Historically this means that the next 30 days is a great time to accumulate more Bitcoin.
However, this may be the most high risk signal to date.
Why?
- All Halvings have had another capitulation
- Miners are running at break even today
- Global recession = tighter liquidity = credit crunch
In 2020 there is a greater probability of more miners defaulting.
Why?
- All Halvings have had another capitulation
- Miners are running at break even today
- Global recession = tighter liquidity = credit crunch
In 2020 there is a greater probability of more miners defaulting.
All prior halvings had another capitulation within 3 mths after the halving.
Today we are 17 days from the 2020 Halving.
If you bought 17 days before other halvings, price was very volatile, and your returns up to the next signal were mixed:
- 2012: 90% higher
- 2016: 1% lower
Today we are 17 days from the 2020 Halving.
If you bought 17 days before other halvings, price was very volatile, and your returns up to the next signal were mixed:
- 2012: 90% higher
- 2016: 1% lower
In short - if considering Bitcoin accumulation for long-term positions which will be held for at least 1 year, "dollar cost averaging" (buying in increments over the next 30 days) should be a good strategy.
