If you’re a veteran crypto trader looking for the best crypto signals to buy, there is one indicator that most likely have ignored. Known as Hash ribbon, the rare crypto indicator has proven its mettle in identifying the right time to buy Bitcoin. And now, it is flashing green – indicating that more gains await those who invest in Bitcoin.
To Make Huge Gains in Crypto – Know How to Pick Up the signs
Everyone wants to pick the right time to buy a cryptocurrency, and that’s why there are investors in the market for whom the bear market signals an upcoming boom. However, it is not as simple as that. A slumping market has a habit of completing eradicating an asset – something we have seen too many times this winter. But waiting for long isn’t good either, as the squeeze reaction of a few whales can push the price of a bitcoin high for a long time.
Thankfully, there are many investment strategies that you can look into, including dollar cost averaging. It provides a logical view of the market – allowing to make investment decisions quickly. However, then you remember that you didn’t enter the crypto market to make peanuts, but the whole bank. While there are no fool-proof strategies to help you do that, some provide a view of an investment period in which you can draw huge gains from the market – hash ribbon is one of them.
What is Hash Ribbon?
Hash ribbon is an indicator comprised of two simple moving averages of bitcoin’s hash rate – 60- and 30-day simple moving averages. When a short-term moving average’s downward cross is on the long-term moving average, it means that the capitulation period has started. And the cross spots at the end of it signify the end of that period. You might make an oversized return if you buy Bitcoin during this “end” time. It is because the pattern indicates that the worst is over – increasing Bitcoin sales. As a result, the Bitcoin price can experience high parabolic growth.
Charles Edwards, the inventor of hash ribbons, believes that the bottom is in.
“The current price trends show strong signals at the major accumulation zones, which indicate that this is the right time to buy.”
Note that the latest signal is coming around at the end of the Bitcoin halving – an event that happens every 4-years and halves the block rewards. And the late cycle hash ribbons coincided with this event – making it a ripe time to invest and make big gains.
But, yes, there is a but coming. The signal doesn’t necessarily mean that the price of crypto will instantly grow high. “Timing bottoms is never easy. Our main objective is to identify the high profitability regions and act on those – regardless of whether or not they end up being the absolute bottom.”
Investing in the absolute bottom is the best time to make absolute gains.
Hash Ribbons Indicator Also Indicated the Blow-off Tops of 2017
2017 was a good year for Bitcoin as far as buying circumstances are concerned. In 2019, it ended up making 233% gains for those who bought into the dip.
But people are not completely willing to place their bets on this signal. The current bear markets are different, and many have grown apprehensive about the crypto market. Also, there are other macroeconomic conditions to take into account as well.
‘There have been six ‘live’ hash ribbon signals since the strategy went public in 2019″, Charles states, “But all of them were received with skepticism backed by theoretical counter-arguments. However, the gains have been made all the time.”
That being said, it is not enough to rally the crypto crowd to buy Bitcoin, as the gains of the crypto market are never guaranteed – especially since it depends so much on public sentiments.
However, Charles emphasizes that it might be a loss of opportunity not to buy now since this event comes once every 50 years. But it also means that we don’t know how Bitcoin will behave.
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Source: https://insidebitcoins.com/news/hash-ribbon-indicator-indicates-that-the-time-to-buy-bitcoin-is-now