BeInCrypto –

One of the best-known and most effective signals to buy bitcoin (BTC), Hash Ribbons, just turned blue. The indicator has a nearly 100% efficiency, an average return of 4157%, and an average downside risk of -11%.

This article looks at the basics of the Hash Ribbons indicator, its importance, and historical cases of its effectiveness. Additionally, it highlights that the blue buy signal generated could mean that the $30,000 level was a macro bottom for bitcoin. If this is the case, then the price will never fall below this value again.

What is the hash rate?

The Hash Ribbons indicator is based on hash rate. This is one of the most important metrics for the health of the bitcoin network. Simply, hash rate is the amount of computing power that BTC miners are generating at any given time.

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