Coinbase\u2019s quarterly earnings exceeded expectations as the leading crypto exchange registered a 44% influx in monthly user growth since the last quarter.At the same time, after the recent miner exodus out of China, the bitcoin hash rate has recovered spectacularly \u2014 so much so that the Bitcoin Hash Ribbon suggests that a long-term bottom is probably in for BTC\/USD.Let\u2019s dig in.In their quarterly 2021 earnings call, Coinbase announced that the company exceeded expectations by bringing in over $2.23 billion in revenue \u2014 a figure notably higher than the expected $1.78 billion, per a CNBC report.Check out the full article here!BTC\/USD Hash Ribbons flash Buy signalOne of the best-known and most effective signals to buy bitcoin, the Hash Ribbon, just flashed a \u2018buy signal\u2019. The indicator has nearly 100% historical efficacy, an average return of 4157%, and an average downside risk of -11% (measured since bitcoin\u2019s inception).What is the bitcoin hash rate?Before we look into the hash ribbons indicator, let\u2019s briefly get through the basics of the bitcoin hash rate.Put simply, the hash rate is the amount of processing power that miners contribute to the bitcoin network at a given moment.The hash rate goes up when more miners compete to mine bitcoin. Normally, this happens when bitcoin\u2019s Dollar price is relatively high as there is good incentive to mine bitcoin (or when there is a favourable difficulty adjustment). The hash rate can also go up when electricity costs are low relative to the price of bitcoin.On the other hand, the hash rate usually trends lower when the bitcoin price drops, or when the price stagnates for a (relatively) long time (until the game theory kicks in). When this happens, miners often take their resources elsewhere, as was the case with the recent Chinese crackdown on the mining sector (though this was\u2026<\/p>","protected":false},"excerpt":{"rendered":"
Coinbase\u2019s quarterly earnings exceeded expectations as the leading crypto exchange registered a 44% influx in monthly user growth since the last quarter.At the same time, after [...]<\/span><\/p>","protected":false},"author":0,"featured_media":2796,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/afluxcoin.com\/ar\/wp-json\/wp\/v2\/posts\/5142"}],"collection":[{"href":"https:\/\/afluxcoin.com\/ar\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/afluxcoin.com\/ar\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/ar\/wp-json\/wp\/v2\/comments?post=5142"}],"version-history":[{"count":0,"href":"https:\/\/afluxcoin.com\/ar\/wp-json\/wp\/v2\/posts\/5142\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/ar\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/afluxcoin.com\/ar\/wp-json\/wp\/v2\/media?parent=5142"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/afluxcoin.com\/ar\/wp-json\/wp\/v2\/categories?post=5142"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/afluxcoin.com\/ar\/wp-json\/wp\/v2\/tags?post=5142"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}