Bitcoin miners capitulation means Bitcoin price could rebound amid financial pressure
Bitcoin miners are currently going through a period known as "miner capitulation." This usually happens when Bitcoin prices fall or mining costs rise, causing many miners to shut down operations and sell Bitcoin to maintain financial balance. This period is usually accompanied by volatility in Bitcoin prices, but historical data shows that this period is often followed by a price rebound.
Signs of miner capitulation have begun to emerge recently. This indicator predicts price bottoms by analyzing the Bitcoin network's hash rate, or the computing power of miners. When the 30-day and 60-day moving average hash rates cross, it indicates that miner capitulation has begun; conversely, when the 30-day moving average rises again above the 60-day moving average, it indicates that capitulation has ended.
Historical Patterns: Historically, positive signals in the hash belt have often foreshadowed price rebounds. For example, the halving events in 2012, 2016, and 2020 were followed by similar capitulation phases, followed by Bitcoin prices at least doubling in the next 30 days.
24-hour wealth appreciation expert, free guidance homepage introduction😂
Although the exact rebound time cannot be determined, historical data and current market indicators show that Bitcoin is expected to achieve a price recovery in the next few months. Investors should pay close attention to the hash belt and other technical indicators to grasp potential investment opportunities.