BBCStaticMiner is a digital asset technology company that mines cryptocurrencies with a focus on the blockchain ecosystem and the generation of digital assets.A rare bullish bitcoin signal, the difficulty ribbon compression, has started pumping up for the first time since the bull run started.As pointed out by a BTC analyst on Twitter, the difficulty ribbon compression seems to be going up for the first time since the bull run started.The indicator is a measure of the moving averages of bitcoin mining difficulty. The mining difficulty metric can be calculated by estimating the number of hashes for mining a block.To properly quantify these values, the BTC difficulty ribbon compression uses a normalized standard deviation. Higher values have historically been associated with the price moving up, while lower values suggest a downward trend.Now, here is how the chart looks like for the BTC difficulty ribbon compression in the past decade:The Bitcoin difficulty ribbon compression indicator just started pumping, (for the first time in this bull cycle) historically very bullish signThe above graph reveals some interesting features about the indicator. It does seem like that the difficulty ribbon compression has a historic relationship with the price.It looks like when the value of the indicator drops very low, BTC hits a low on the curve. And when it rises, like it is doing right now, the price also moves up.However, there is something to consider here. The indicator is a measure of the mining difficulty, and right now the world hash rate is facing some special circumstances due to the China crackdowns.After massively dropping for a while, the global Bitcoin hash rate has started to go up again as miners migrate from China to other countries like the US. This should mean the difficult would go up quickly as the usual mining farms start\u2026<\/p>","protected":false},"excerpt":{"rendered":"
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