{"id":425232,"date":"2020-05-27T18:50:19","date_gmt":"2020-05-27T18:50:19","guid":{"rendered":"https:\/\/wncen.com\/?p=425232"},"modified":"2024-06-11T13:49:23","modified_gmt":"2024-06-11T13:49:23","slug":"bitcoin-puell-multiple-indicator-btc","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-puell-multiple-indicator-btc\/","title":{"rendered":"‘One of the Greatest Ever’ Indicators Is Screaming Buy Bitcoin at $9,000"},"content":{"rendered":"

Because Bitcoin<\/a> is an asset unlike anything else before it, analysts use a set of unorthodox, uniquely developed tools for fundamental analysis.<\/p>\n

One of these tools praised as “one of the greatest ever” indicators, is currently “screaming buy.” The only previous three times this indicator gave buy signals, it resulted in an average of over 5,000% return on investment.<\/p>\n

Cryptocurrency Fundamental Analysis Tools Focus on Network Health, BTC Miners<\/h2>\n

Bitcoin<\/a> is the first-ever cryptocurrency and the first digital asset<\/a> to solve double-spending through a proof-of-work system called mining.<\/p>\n

These miners are so important to the underlying network’s health and can have such significant influence on price action<\/a>, that dozens of indicators have been developed by top Bitcoin researchers to help them make sense of the asset’s long-term valuation potential.<\/p>\n

Rather than speculate like most that Bitcoin will reach incredible prices of $100,000 to over $1 million per BTC<\/a>, these tools look at fundamentals that could influence the asset’s longevity as a technology, store of wealth, and more.<\/p>\n

Related Reading | Bitcoin Hash Ribbons Indicate Post-Halving Miner Capitulation Has Begun<\/a><\/strong><\/em><\/p>\n

Many of these tools are giving conflicting signals. An indicator called the Hash Ribbons looks at Bitcoin miner hash rate \u2013 which recently set a new 2020 low<\/a> \u2013 to understand if miners will be selling their BTC holdings or not.<\/p>\n

That indicator appears to suggest that miners are capitulating<\/a> due to the sudden, overnight increase in the cost of production that the halving brought forth.<\/p>\n

Each halving reduces the block reward<\/a> these miners receive for securing the Bitcoin protocol and add each block of transactions to its immutable digital ledger on the blockchain.<\/p>\n

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Puell Multiple is a screaming buy. One of the greatest ever. You do not want to be selling here folks. <\/p>\n

Save yourselves and stack.@PositiveCrypto<\/a> @kenoshaking<\/a> #bitcoin<\/a> pic.twitter.com\/WfrWLR50yf<\/a><\/p>\n

— Riggs (@RiggsBTC) May 27, 2020<\/a><\/p><\/blockquote>\n