Bitcoin (BTC / USD) Mining Capitulation - On Floor - Does the price go up?

What does the price of Bitcoin have to do with the Hash Rate Indicator and the Hash Ribbons indicator?

We will see

In the last week we saw the start of a mining capitulation (Hash Ribbons indicator) in which the miners sold more of the bitcoin they produced and that if it had not been absorbed by the market, it would have pushed back the price of bitcoin

We also saw with the days that the price did not go back for this oversold except for some spike in the last days.

Well now we know that the Grayscale Investments group was massively buying Bitcoin before halving and post halving

Keys Seen in previous post (see links below)

• The massive purchases of Bitcoin by groups of investors has pressured the price rise
• The latest mining capitulation is not causing significant drops in the price of Bitcoin
• Bitcoin price continues to stay above bullish trend line
• The amount of Bitcoin sold by miners is less than that produced

On the other hand, we have already seen 2 corrections of the mining difficulty, consecutive negatives, the last one on June 4, which has made the Hash rate begin to rise again.

As we have already seen, the Hash Ribbons indicator is based on average lines of 30 and 60 days of the Hash Rate indicator. Therefore, a bullish momentum in the Hash Rate is reflected in subsequent days in the Hash Ribbons indicator.

What does this mean?

This could indicate, if the price does not correct, that we are already on the floor of the 30-day average line of this indicator.

This indicator indicates the end of the mining capitulation, and a good time to buy, according to this indicator, with the bullish crossing of the 30-day line to the 60-day line.

But if we look at the history of the price, when there were mining capitulations, the best moments of purchases can occur days before.

We must be attentive to this indicator because the difficulty adjustments may already be indicating that the mining capitulation may be ending

What do you think will go down to the price of Bitcoin and will we continue in the mining capitulation indicated by the Hash Ribbons or the price will go up?

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