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bitcoin buy signal crypto
Nexo Logo

The Most Lucrative Signal in Bitcoin History Just Flipped Buy

Tony Spilotro by Tony Spilotro
3 years ago
in Technical analysis
Reading Time: 3 mins read
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Bitcoin is the best performing investment of the last decade, bringing investors who bought the asset early unimaginable returns.

An important metric in Bitcoin has just signaled buy for the tenth time in the asset’s history, with each time the buy signal occurring in the past resulting in an average of 5,000% returns following. Could Bitcoin be ready to bring investors upwards of 5,000% returns in the coming months ahead?

Bitcoin Hash Ribbons Confirm Buy Signal for 10th Time In Crypto History

Investors often look at a number of factors to determine if an asset is a buy, such as conducting detailed fundamental and technical analysis. Some analysts look at price charts, patterns, and more, while others use more unorthodox methods – especially when it comes to Bitcoin.

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Related Reading | Spot Versus Tether Exchanges: Can Bitcoin Price Itself Be a Buy or Sell Signal 

Because Bitcoin is a unique asset based on a technology being adopted and isn’t a company with shares and revenue models that a value can be derived from, analysts find themselves using tools unique to Bitcoin, and taking into consideration unusual metrics such as mining difficulty or network transactions.

An indicator known as “hash ribbons” is an oscillator based on Bitcoin miners and designed to help analysts understand when this specific subset of sellers is creating additional sell pressure on the market. Not only will the tool tip off traders as to when a capitulation-related selloff is about to occur, as we’ve seen in recent weeks, but the tool can also signal to investors when it’s a good time to buy Bitcoin.

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bitcoin price chart hash ribbons

And according to the tool, now might be the best possible time to buy Bitcoin for the foreseeable future. The tool has only given this buy signal just ten times in Bitcoin’s lifecycle, and the following uptrend has resulted in as much as 5,000% on average returns for investors.

Hash Ribbons Buy confirmed.

This is just the 10th time these conditions have been met for #Bitcoin.

It is highly likely we never see $BTC under $6000 ever again.

All other occasions saw an average gain-to-cycle-peak of +5000%.

Now is the period to Buy Bitcoin and never sell. pic.twitter.com/hSH9BtRhsj

— Charles Edwards (@caprioleio) December 28, 2019

An analyst following the tool shared a photo of the Oracle of Omaha and a famous quote of his, reminding investors to always be fearful when others are greedy and to be greedy when others are fearful. The quote suggests that although market sentiment may be in the dumps after an extended downtrend, this often results in the best possible financial opportunity and is a strategy some of the most famous investors in the world have long sworn by.

Related Reading | Current Bitcoin Trend Looks Hopeless According To Centuries-Old Charting Tool

Sentiment was last this low when Bitcoin price was hovering around $3,000. Right around then, this same signal flipped buy, taking Bitcoin on a parabolic rally and resulting in 350% returns. Now that the signal has flipped again, the next rally if the crypto asset follows past performance, could make the 2019 and even the 2017 rallies look like a tiny blip on price charts in the future.

Tags: bitcoincryptohash ribbonstechnical analysis
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a global remote work leader with a decade of award-winning content experience and excellence. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter at @tonyspilotroBTC and feel free to drop me a line if you would like to work together.

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