Bitcoin Network Gets Unprecedented Stress Test, Still No Buy Signal

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Bitcoin price action is what everyone cares most about, however, the health of the network the asset underpins can have a dramatic impact on price action as the market has recently witnessed. A massive drop to the hash rate, China cracking down on miners, and energy FUD all contributed to one of the worst selloffs on record. This unprecedented stress test on the network has resulted in a “never before” seen – not one, not two, but – three “Hash Ribbon capitulations in a row without a buy signal. But what exactly does that mean, and what happens when that buy signal eventually comes around? Bitcoin Network Takes A Licking, Keeps On Ticking Bitcoin is an asset unlike anything else before it, so unique an entire industry has since been created in its image. Each new coin is pitched as the successor to the original, but nothing has yet to…

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