Bitcoin Hash Ribbon Metric Fails for the First Time Following FTX Crash
The Bitcoin Hash Ribbon metric had a good run when it came down to signal a buying opportunity. However, the recent downturn in the market, induced by the FTX crash, has changed the tides. As explained by Capriole Investments’ Charles Edwards, the metric takes into account both the BTC mining difficulty as well as the hash rate to determine the miners’ capitulation. Since the former readjusts itself every roughly two weeks, while the latter does it daily, there could be some time differences. This is why Edwards advised people to look at the Hash Ribbon as a long-term model. The post reads,
FTX’s Sam Bankman-Fried Says He’ll Testify Before U.S.
FTX creditors and investors may soon have the chance to hear former big boss Sam Bankman-Fried explain what really went wrong with the collapse of the cryptocurrency exchange platform. That is if the recent pronouncement of Bankman-Fried about his willingness to appear and testify in a hearing by the U.S. House Financial Services Committee this December 13 proves to be more than just a publicity stunt to try and convince the public that he had not committed any kind of wrongdoing.It can be recalled that following the platform’s filing for Chapter 11 Bankruptcy, Committee chair