Bitcoin Undervalued Relative to Gold, Equities, Tudor Jones Says
The bitcoin market this year had numerous entry points for investors. One indicator that provided the most profitable entry points (occurring only twice) has shown up yet again after 5 months. It preceded BTC’s epic rally to $10,500 in April and the run-up to $12,500 in August.
There is no shortage of pioneers in the bitcoin ecosystem. Charles Edwards, the founder of Capriole Investments, is one such pioneer who propounded the Hash Ribbons indicator for timing entry points in the BTC market. It appeared only twice during the entire course of 2020 and has preceeded massive profit turning bitcoin rallies.
As per the latest update by Edwards, the indicator has shown up yet again after a 5-month hiatus. And is pointing investors to enter another profitable bitcoin buying position.
The blue dot in question occurs every time after the BTC miners are done capitulating their holdings. Hash Ribbons represent the miner capitulation phase and also, in turn, point to a drop in the overall bitcoin mining hash rate.
Glassnode CTO Rafael Schultze-Kraft provided an explanation as to why Hash Ribbons serve as an excellent entry point for bitcoin investors with the below chart.
Read more here (https://btcmanager.com/crypto-community-stablecoin-bill/)