Crypto Dan
BTC - Hash Ribbon model fail for the first time
For the first time since the Hash Ribbon model's golden cross, the dead cross came without the price of Bitcoin rise. Due to the bank run of the FTX exchange, the Bitcoin price fell to around $16,000, and as a result, the hash rate in F2Pool, the world top 3 mining pool, decreased significantly. In particular, it's highly likely that many of the mining machines that generate 0.06 USD/kWh electricity have stopped mining. Current bear market is likely to cause more pain than in the past. However, the bottom is likely to be nearer as miners, whales and institutions capitulate. Split buy from the long-term may be a good answer.