Strong signs are emerging that the Bitcoin mining crisis is over. According to the Hash Ribbon metric, the mining sector is starting to show signs of recovery, and this development is expected to have a positive impact on BTC prices.
There are strong signs that the Bitcoin mining crisis and miner capitulation experienced in the last three months are over. The profitability crisis that began with Bitcoin miners’ revenues halving after the halving in April is now showing signs of recovery.
The Bitcoin mining industry suffered a serious blow after the halving; the decrease in miners’ income caused many small players to withdraw from the market. However, according to the Hash Ribbon metric, large players managed to get out of the crisis by investing in new technologies during this period. For example, large mining companies such as Marathon Digital started using more efficient equipment and accelerated their activities again. The Bitcoin network’s hash rate, or the computing power required for mining, reached 638 EH, the highest level in history. This increase shows that miners are accelerating their activities again by using more efficient machines. This situation shows that miners tend to hold on to the BTC they earn and the selling pressure has decreased.
These developments suggest that the miner-based pressure on BTC prices is easing, paving the way for a possible price increase in the future. According to the data, miners’ activity is decreasing relative to the overall chain volume. The miner flow volume, which reached 20% in May, dropped below 10% in August. This decline indicates that miners’ pressure on the market is decreasing and the impact on the BTC price is gradually weakening. In addition, the decreasing amount of BTC transferred from miner wallets to centralized exchanges supports this trend.
BTC price is struggling to stay above the $60,000 level after the major drop in early August. Prices are still trading below the 200-day simple moving average (SMA), indicating a negative market structure for BTC in the short term. However, if the price can break through the supply area at $63,000 and make that level support, the possibility of a BTC recovery could strengthen.
FOR THE GIFT OF 10 DOLLARS PLEASE READ CAREFULLY.
My friends, you know that we, the publishers, are doing everything we can for you here. We are conveying to you the services and conveniences that our authorities have provided us. I have never withdrawn my support for both the cryptocurrency market and you, and on the contrary, I am trying to provide more support.
THIS 10 DOLLAR GIFT CAMPAIGN IS A CAMPAIGN MADE ESPECIALLY FOR ME BY BINACE. YOU CAN GET CONFIRMATION OF WHAT I HAVE SAID ABOUT THIS ISSUE BY CALLING LIVE HELP. IT IS A 10 DOLLAR CAMPAIGN MADE FOR YOU THROUGH ME.
Now I will explain how you will receive your gift. First of all, Binance users who have registered with someone's reference and actively use futures transactions will unfortunately not be able to benefit from this promotion.
So who can benefit?
Our friends who have not yet activated the futures section, when you activate your FUTURES transaction section, you will earn $10 when you open it by entering my 88623008 reference code.
I EXPLAIN IN DETAIL.
My brothers and sisters who have become Binance members without a reference, please listen carefully;
When you do what I say in order, you will receive 10 USDT.
Go to the Futures Section from your application,
On the next screen, open your account by entering the code 88623008 in the REFERENCE CODE section,
My brothers and sisters who want to complete this transaction and receive the 10 USDT reward until MAY 1 can do so. Afterwards, after activating your account, it is enough to open your first futures transaction.
The first 1,000 brothers who open a 200 USDT transaction by MAY 1 will receive a 10 USDT reward.
So let me give you a tactic like this; even if you open and close 20x with a $5 transaction, you will be entitled to the reward.
Even if you do this after May 1st, your reward will not come. So, do it until May 1st. In fact, I would say do it right now in 5 seconds.
It's very simple. Go to futures, enter my 88623008 referral code and activate the account. Then just open a transaction of 200 usdt in total and get the 10 usdt reward.
WHEN WILL THE REWARD COME?
Your $10 reward will come to the REWARDS section of your Binance application within 30 days from May 1. By activating it from there, you can use your $10 reward, or more than 300 lira, in futures transactions.
You can share this post with your friends in need so that they can also benefit from it.
IN THE MEANWHILE, MY BROTHERS, PLEASE DON'T MISS YOUR LIKES. EVERY SHARE IS FOR YOU. SO DON'T WITHHOLD YOUR SUPPORT. EVEN IF YOU HAVEN'T FOLLOWED US YET, DON'T FORGET TO FOLLOW US. WITH MY REGARDS.
