Will Bitcoin Go To $12k or $30k First? | Charles Edwards
The Mark Moss Show
00:00
Bitcoin Investing - Hash Ribbons and on Chain Metric
The hash ribbons is a measure of basically how much mining energy is committed to the network. It usually happens when you've had some kind of hit to price or could be even to supply side, such as rising energy prices like we have globally. The inefficient miners kind of stop mining or they give up or they sell their Bitcoin stack to cover their costs. And that creates extra sell side pressure. But it would be it wouldn't be wise to base your decisions purely based on that one.
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