{"id":418729,"date":"2020-03-20T16:00:14","date_gmt":"2020-03-20T16:00:14","guid":{"rendered":"https:\/\/wncen.com\/?p=418729"},"modified":"2020-03-20T16:03:07","modified_gmt":"2020-03-20T16:03:07","slug":"prelude-to-bull-run-bitcoin-hash-ribbons-signal-miner-capitulation-only-just-started","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/prelude-to-bull-run-bitcoin-hash-ribbons-signal-miner-capitulation-only-just-started\/","title":{"rendered":"Prelude to Bull Run: Bitcoin Hash Ribbons Signal Miner Capitulation Only Just Started"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">Hash rate is plummeting faster than <a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a>\u2019s price, suggesting that miners are starting to turn off their machines and await higher prices to return.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">An indicator called Hash Ribbons is signaling that miners are only just beginning to capitulate. And while this could suggest more downside in the near term, once things return to normal, the lows act as the final shakeout before a new bull run begins.<\/span><\/p>\n<h2>Hash Ribbons Signal Miner Capitulation Has Only Just Begun<\/h2>\n<p class=\"p1\"><span class=\"s1\"><a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a> derives much of its value from its decentralized blockchain network, which is kept operating by a process called proof-of-work, where miners make complex computations that validate each block, keeping the network running and secure.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">These miners act as the backbone to the overall supply and demand of the Bitcoin market. They drive the bulk of the supply flooding the market, as all Bitcoin ever sold originated from this process.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/wncen.com\/2020\/03\/19\/miner-capitulation-hash-rate-is-dropping-faster-than-bitcoin-price\/\">Miner Capitulation: Hash Rate is Dropping Faster Than Bitcoin Price\u00a0<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">Miners aim to produce each Bitcoin resulting in each BTC generated being worth more in value than the cost required in energy to produce each BTC. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">When operational costs run lower than the price of Bitcoin, miners are literally <a href=\"https:\/\/wncen.com\/2020\/03\/16\/bitcoin-trades-below-production-cost-miners-are-better-off-buying\/\">better off buying the cryptocurrency outright<\/a> than continuing to operate at a loss.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">That\u2019s exactly what\u2019s been happening after the latest cryptocurrency market collapse following <a href=\"https:\/\/www.cnbc.com\/2020\/03\/11\/coronavirus-stock-market-sell-off-on-global-pandemic-declaration.html\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">peak coronavirus panic selling,<\/a> according to a tool called Hash Ribbons.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\"><a href=\"https:\/\/www.tradingview.com\/script\/kT7jIvqv-Hash-Ribbons\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Hash Ribbons<\/a> are used to better understand the price of Bitcoin and its impact on miners. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The tool can help traders prepare for potential mass capitulation by miners, who would be selling their BTC stores, either cashing out their operations completely, or attempting to prepare for lower prices in the future by moving into cash now.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Even though <a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a> has already crashed by a substantial margin in recent weeks, it\u2019s only now that the Hash Ribbons are signaling that capitulation is starting across the mining industry.<\/span><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-418731\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/Screen-Shot-2020-03-20-at-9.42.20-AM.png?resize=860%2C529\" alt=\"bitcoin hash ribbons\" width=\"860\" height=\"529\"><\/p>\n<h2>Is This The Final Shakeout Before the Next Bitcoin Bull Run?<\/h2>\n<p class=\"p1\"><span class=\"s1\">Miners with the highest production costs will be the first to turn off their rigs, which in turn caused mining difficulty to drop leveling out operating costs for those miners that remain.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">This could <a href=\"https:\/\/wncen.com\/2020\/03\/19\/miner-capitulation-hash-rate-is-dropping-faster-than-bitcoin-price\/\">lead to serious centralization in Bitcoin<\/a>, however.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">But Hash Ribbons signaling capitulation in miners historically wasn\u2019t always a bad thing.<\/span><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-418733\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/Screen-Shot-2020-03-20-at-9.49.34-AM.png?resize=860%2C529\" alt=\"bitcoin hash ribbons\" width=\"860\" height=\"529\"><\/p>\n<p class=\"p1\"><span class=\"s1\">The last two instances of the occurrence resulted in large rallies, and during the last two Bitcoin bear to bull cycles, miners capitulated three times total before each new bull run began, with the third and final time each cycle being in close proximity to the halving.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/wncen.com\/2020\/03\/16\/bitcoin-trades-below-production-cost-miners-are-better-off-buying\/\">Bitcoin Trades Below Production Cost, Miners Are Better Off Buying\u00a0<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">After that, the process doesn\u2019t restart until a new all-time high is set, and a yet another bear cycle begins. Could this be what\u2019s next for <a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a>?<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hash rate is plummeting faster than Bitcoin\u2019s price, suggesting that miners are starting to turn off their machines and await higher prices to return. An indicator called Hash Ribbons is signaling that miners are only just beginning to capitulate. And while this could suggest more downside in the near term, once things return to normal, the lows act as the final shakeout before a new bull run begins. Hash Ribbons Signal Miner Capitulation Has Only Just Begun Bitcoin derives much of its value from its decentralized blockchain network, which is kept operating by a process called proof-of-work, where miners make complex computations that validate each block, keeping the network running and secure. These miners act as the backbone to the overall supply and demand of the Bitcoin market. They drive the bulk of the supply flooding the market, as all Bitcoin ever sold originated from this process. Related Reading | Miner Capitulation: Hash Rate is Dropping Faster Than Bitcoin Price\u00a0 Miners aim to produce each Bitcoin resulting in each BTC generated being worth more in value than the cost required in energy to produce each BTC. When operational costs run lower than the price of Bitcoin, miners are literally better off buying the cryptocurrency outright than continuing to operate at a loss. That\u2019s exactly what\u2019s been happening after the latest cryptocurrency market collapse following peak coronavirus panic selling, according to a tool called Hash Ribbons. Hash Ribbons are used to better understand the price of Bitcoin and its impact on miners. The tool can help traders prepare for potential mass capitulation by miners, who would be selling their BTC stores, either cashing out their operations completely, or attempting to prepare for lower prices in the future by moving into cash now. Even though Bitcoin has already crashed by a substantial margin in recent weeks, it\u2019s only now that the Hash Ribbons are signaling that capitulation is starting across the mining industry. Is This The Final Shakeout Before the Next Bitcoin Bull Run? Miners with the highest production costs will be the first to turn off their rigs, which in turn caused mining difficulty to drop leveling out operating costs for those miners that remain. This could lead to serious centralization in Bitcoin, however. But Hash Ribbons signaling capitulation in miners historically wasn\u2019t always a bad thing. The last two instances of the occurrence resulted in large rallies, and during the last two Bitcoin bear to bull cycles, miners capitulated three times total before each new bull run began, with the third and final time each cycle being in close proximity to the halving. Related Reading | Bitcoin Trades Below Production Cost, Miners Are Better Off Buying\u00a0 After that, the process doesn\u2019t restart until a new all-time high is set, and a yet another bear cycle begins. Could this be what\u2019s next for Bitcoin?<\/p>\n","protected":false},"author":517,"featured_media":418741,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[428,6664,66102,2990],"class_list":["post-418729","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-crypto","tag-hash-ribbons","tag-mining"],"acf":[],"yoast_head":"\n<title>Prelude to Bull Run: Bitcoin Hash Ribbons Signal Miner Capitulation Only Just Started<\/title>\n<meta name=\"description\" content=\"Hash rate is plummeting faster than Bitcoin\u2019s price, suggesting that miners are starting to turn off their machines and await higher prices to return. An\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/prelude-to-bull-run-bitcoin-hash-ribbons-signal-miner-capitulation-only-just-started\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Prelude to Bull Run: Bitcoin Hash Ribbons Signal Miner Capitulation Only Just Started\" \/>\n<meta property=\"og:description\" content=\"Hash rate is plummeting faster than Bitcoin\u2019s price, suggesting that miners are starting to turn off their machines and await higher prices to return. An\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/prelude-to-bull-run-bitcoin-hash-ribbons-signal-miner-capitulation-only-just-started\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2020-03-20T16:00:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-03-20T16:03:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/bitcoin-mining-capitulation-hash-ribbons-shutterstock_224007013-1-scaled.jpg?fit=2560%2C1997\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1997\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony &quot;The Bull&quot; Severino\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/tonythebullBTC\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tony &quot;The Bull&quot; Severino\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/wncen.com\/news\/prelude-to-bull-run-bitcoin-hash-ribbons-signal-miner-capitulation-only-just-started\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/news\/prelude-to-bull-run-bitcoin-hash-ribbons-signal-miner-capitulation-only-just-started\/\"},\"author\":{\"name\":\"Tony \\\"The Bull\\\" Severino\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/5322c9a09a6f19804bb578de17556a1d\"},\"headline\":\"Prelude to Bull Run: Bitcoin Hash Ribbons Signal Miner Capitulation Only Just Started\",\"datePublished\":\"2020-03-20T16:00:14+00:00\",\"dateModified\":\"2020-03-20T16:03:07+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/prelude-to-bull-run-bitcoin-hash-ribbons-signal-miner-capitulation-only-just-started\/\"},\"wordCount\":491,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/prelude-to-bull-run-bitcoin-hash-ribbons-signal-miner-capitulation-only-just-started\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/bitcoin-mining-capitulation-hash-ribbons-shutterstock_224007013-1-scaled.jpg?fit=2560%2C1997\",\"keywords\":[\"bitcoin\",\"crypto\",\"hash ribbons\",\"mining\"],\"articleSection\":[\"Bitcoin\",\"Cryptocurrency Market News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/wncen.com\/news\/prelude-to-bull-run-bitcoin-hash-ribbons-signal-miner-capitulation-only-just-started\/#respond\"]}],\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\/\/wncen.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/wncen.com\/news\/prelude-to-bull-run-bitcoin-hash-ribbons-signal-miner-capitulation-only-just-started\/\",\"url\":\"https:\/\/wncen.com\/news\/prelude-to-bull-run-bitcoin-hash-ribbons-signal-miner-capitulation-only-just-started\/\",\"name\":\"Prelude to Bull Run: Bitcoin Hash Ribbons Signal Miner Capitulation Only Just Started\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/prelude-to-bull-run-bitcoin-hash-ribbons-signal-miner-capitulation-only-just-started\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/prelude-to-bull-run-bitcoin-hash-ribbons-signal-miner-capitulation-only-just-started\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/bitcoin-mining-capitulation-hash-ribbons-shutterstock_224007013-1-scaled.jpg?fit=2560%2C1997\",\"datePublished\":\"2020-03-20T16:00:14+00:00\",\"dateModified\":\"2020-03-20T16:03:07+00:00\",\"description\":\"Hash rate is plummeting faster than Bitcoin\u2019s price, suggesting that miners are starting to turn off their machines and await higher prices to return. An\",\"breadcrumb\":{\"@id\":\"https:\/\/wncen.com\/news\/prelude-to-bull-run-bitcoin-hash-ribbons-signal-miner-capitulation-only-just-started\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/wncen.com\/news\/prelude-to-bull-run-bitcoin-hash-ribbons-signal-miner-capitulation-only-just-started\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/news\/prelude-to-bull-run-bitcoin-hash-ribbons-signal-miner-capitulation-only-just-started\/#primaryimage\",\"url\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/bitcoin-mining-capitulation-hash-ribbons-shutterstock_224007013-1-scaled.jpg?fit=2560%2C1997\",\"contentUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/bitcoin-mining-capitulation-hash-ribbons-shutterstock_224007013-1-scaled.jpg?fit=2560%2C1997\",\"width\":2560,\"height\":1997,\"caption\":\"Capitulation and Bitcoin market bottom\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/wncen.com\/news\/prelude-to-bull-run-bitcoin-hash-ribbons-signal-miner-capitulation-only-just-started\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/wncen.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Prelude to Bull Run: Bitcoin Hash Ribbons Signal Miner Capitulation Only Just Started\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/wncen.com\/#website\",\"url\":\"https:\/\/wncen.com\/\",\"name\":\"NewsBTC\",\"description\":\"Bitcoin &amp; Cryptocurrency News Today\",\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/wncen.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/wncen.com\/#organization\",\"name\":\"NewsBTC\",\"url\":\"https:\/\/wncen.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"contentUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"width\":157,\"height\":46,\"caption\":\"NewsBTC\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/newsbtc\",\"https:\/\/x.com\/newsbtc\",\"https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/5322c9a09a6f19804bb578de17556a1d\",\"name\":\"Tony \\\"The Bull\\\" Severino\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/129b75c18bdea8b048f1d7d526df61d7?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/129b75c18bdea8b048f1d7d526df61d7?s=96&d=mm&r=g\",\"caption\":\"Tony \\\"The Bull\\\" Severino\"},\"description\":\"Tony \\\"The Bull\\\" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \\\"The Bull,\\\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \\\"The Bull\\\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.\",\"sameAs\":[\"https:\/\/coinchartist.io\/\",\"https:\/\/www.instagram.com\/coinchartist_io\/\",\"https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC\",\"https:\/\/www.youtube.com\/@coinchartist_io\"],\"url\":\"https:\/\/wncen.com\/author\/tonymspilotro\/\"}]}<\/script>\n","yoast_head_json":{"title":"Prelude to Bull Run: Bitcoin Hash Ribbons Signal Miner Capitulation Only Just Started","description":"Hash rate is plummeting faster than Bitcoin\u2019s price, suggesting that miners are starting to turn off their machines and await higher prices to return. An","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/wncen.com\/news\/prelude-to-bull-run-bitcoin-hash-ribbons-signal-miner-capitulation-only-just-started\/","og_locale":"en_US","og_type":"article","og_title":"Prelude to Bull Run: Bitcoin Hash Ribbons Signal Miner Capitulation Only Just Started","og_description":"Hash rate is plummeting faster than Bitcoin\u2019s price, suggesting that miners are starting to turn off their machines and await higher prices to return. An","og_url":"https:\/\/wncen.com\/news\/prelude-to-bull-run-bitcoin-hash-ribbons-signal-miner-capitulation-only-just-started\/","og_site_name":"NewsBTC","article_publisher":"https:\/\/www.facebook.com\/newsbtc","article_published_time":"2020-03-20T16:00:14+00:00","article_modified_time":"2020-03-20T16:03:07+00:00","og_image":[{"width":2560,"height":1997,"url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/bitcoin-mining-capitulation-hash-ribbons-shutterstock_224007013-1-scaled.jpg?fit=2560%2C1997","type":"image\/jpeg"}],"author":"Tony \"The Bull\" Severino","twitter_card":"summary_large_image","twitter_creator":"@https:\/\/twitter.com\/tonythebullBTC","twitter_site":"@newsbtc","twitter_misc":{"Written by":"Tony \"The Bull\" Severino","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/wncen.com\/news\/prelude-to-bull-run-bitcoin-hash-ribbons-signal-miner-capitulation-only-just-started\/#article","isPartOf":{"@id":"https:\/\/wncen.com\/news\/prelude-to-bull-run-bitcoin-hash-ribbons-signal-miner-capitulation-only-just-started\/"},"author":{"name":"Tony \"The Bull\" Severino","@id":"https:\/\/wncen.com\/#\/schema\/person\/5322c9a09a6f19804bb578de17556a1d"},"headline":"Prelude to Bull Run: Bitcoin Hash Ribbons Signal Miner Capitulation Only Just Started","datePublished":"2020-03-20T16:00:14+00:00","dateModified":"2020-03-20T16:03:07+00:00","mainEntityOfPage":{"@id":"https:\/\/wncen.com\/news\/prelude-to-bull-run-bitcoin-hash-ribbons-signal-miner-capitulation-only-just-started\/"},"wordCount":491,"commentCount":0,"publisher":{"@id":"https:\/\/wncen.com\/#organization"},"image":{"@id":"https:\/\/wncen.com\/news\/prelude-to-bull-run-bitcoin-hash-ribbons-signal-miner-capitulation-only-just-started\/#primaryimage"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/bitcoin-mining-capitulation-hash-ribbons-shutterstock_224007013-1-scaled.jpg?fit=2560%2C1997","keywords":["bitcoin","crypto","hash ribbons","mining"],"articleSection":["Bitcoin","Cryptocurrency Market News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/wncen.com\/news\/prelude-to-bull-run-bitcoin-hash-ribbons-signal-miner-capitulation-only-just-started\/#respond"]}],"copyrightYear":"2020","copyrightHolder":{"@id":"https:\/\/wncen.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/wncen.com\/news\/prelude-to-bull-run-bitcoin-hash-ribbons-signal-miner-capitulation-only-just-started\/","url":"https:\/\/wncen.com\/news\/prelude-to-bull-run-bitcoin-hash-ribbons-signal-miner-capitulation-only-just-started\/","name":"Prelude to Bull Run: Bitcoin Hash Ribbons Signal Miner Capitulation Only Just Started","isPartOf":{"@id":"https:\/\/wncen.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/wncen.com\/news\/prelude-to-bull-run-bitcoin-hash-ribbons-signal-miner-capitulation-only-just-started\/#primaryimage"},"image":{"@id":"https:\/\/wncen.com\/news\/prelude-to-bull-run-bitcoin-hash-ribbons-signal-miner-capitulation-only-just-started\/#primaryimage"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/bitcoin-mining-capitulation-hash-ribbons-shutterstock_224007013-1-scaled.jpg?fit=2560%2C1997","datePublished":"2020-03-20T16:00:14+00:00","dateModified":"2020-03-20T16:03:07+00:00","description":"Hash rate is plummeting faster than Bitcoin\u2019s price, suggesting that miners are starting to turn off their machines and await higher prices to return. An","breadcrumb":{"@id":"https:\/\/wncen.com\/news\/prelude-to-bull-run-bitcoin-hash-ribbons-signal-miner-capitulation-only-just-started\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/wncen.com\/news\/prelude-to-bull-run-bitcoin-hash-ribbons-signal-miner-capitulation-only-just-started\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/news\/prelude-to-bull-run-bitcoin-hash-ribbons-signal-miner-capitulation-only-just-started\/#primaryimage","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/bitcoin-mining-capitulation-hash-ribbons-shutterstock_224007013-1-scaled.jpg?fit=2560%2C1997","contentUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/bitcoin-mining-capitulation-hash-ribbons-shutterstock_224007013-1-scaled.jpg?fit=2560%2C1997","width":2560,"height":1997,"caption":"Capitulation and Bitcoin market bottom"},{"@type":"BreadcrumbList","@id":"https:\/\/wncen.com\/news\/prelude-to-bull-run-bitcoin-hash-ribbons-signal-miner-capitulation-only-just-started\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/wncen.com\/"},{"@type":"ListItem","position":2,"name":"Prelude to Bull Run: Bitcoin Hash Ribbons Signal Miner Capitulation Only Just Started"}]},{"@type":"WebSite","@id":"https:\/\/wncen.com\/#website","url":"https:\/\/wncen.com\/","name":"NewsBTC","description":"Bitcoin &amp; Cryptocurrency News Today","publisher":{"@id":"https:\/\/wncen.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/wncen.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/wncen.com\/#organization","name":"NewsBTC","url":"https:\/\/wncen.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/#\/schema\/logo\/image\/","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","contentUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","width":157,"height":46,"caption":"NewsBTC"},"image":{"@id":"https:\/\/wncen.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/newsbtc","https:\/\/x.com\/newsbtc","https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw"]},{"@type":"Person","@id":"https:\/\/wncen.com\/#\/schema\/person\/5322c9a09a6f19804bb578de17556a1d","name":"Tony \"The Bull\" Severino","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/129b75c18bdea8b048f1d7d526df61d7?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/129b75c18bdea8b048f1d7d526df61d7?s=96&d=mm&r=g","caption":"Tony \"The Bull\" Severino"},"description":"Tony \"The Bull\" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/wncen.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Prelude to Bull Run: Bitcoin Hash Ribbons Signal Miner Capitulation Only Just Started","url":"http:\/\/wncen.com\/news\/prelude-to-bull-run-bitcoin-hash-ribbons-signal-miner-capitulation-only-just-started\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/prelude-to-bull-run-bitcoin-hash-ribbons-signal-miner-capitulation-only-just-started\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/bitcoin-mining-capitulation-hash-ribbons-shutterstock_224007013-1-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/bitcoin-mining-capitulation-hash-ribbons-shutterstock_224007013-1-scaled.jpg?fit=2560%2C1997"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Tony \"The Bull\" Severino"}],"creator":["Tony \"The Bull\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","crypto","hash ribbons","mining"],"dateCreated":"2020-03-20T16:00:14Z","datePublished":"2020-03-20T16:00:14Z","dateModified":"2020-03-20T16:03:07Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Prelude to Bull Run: Bitcoin Hash Ribbons Signal Miner Capitulation Only Just Started\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/prelude-to-bull-run-bitcoin-hash-ribbons-signal-miner-capitulation-only-just-started\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/prelude-to-bull-run-bitcoin-hash-ribbons-signal-miner-capitulation-only-just-started\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/03\\\/bitcoin-mining-capitulation-hash-ribbons-shutterstock_224007013-1-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/03\\\/bitcoin-mining-capitulation-hash-ribbons-shutterstock_224007013-1-scaled.jpg?fit=2560%2C1997\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"The Bull\\\" Severino\"}],\"creator\":[\"Tony \\\"The Bull\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"crypto\",\"hash ribbons\",\"mining\"],\"dateCreated\":\"2020-03-20T16:00:14Z\",\"datePublished\":\"2020-03-20T16:00:14Z\",\"dateModified\":\"2020-03-20T16:03:07Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/bitcoin-mining-capitulation-hash-ribbons-shutterstock_224007013-1-scaled.jpg?fit=2560%2C1997","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/418729","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=418729"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/418729\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/418741"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=418729"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=418729"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=418729"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}