06 AUG, 2022

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Signals that Bitcoin remains in timeless capitulation mode are all over, and each is a "unusual event," says Capriole's Charles Edwards.

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Bitcoin (BTC) is offering overwhelming evidence that it is capitulating, and also it is time to flip bullish as a result, brand-new analysis thinks.

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In a Twitter thread on Aug. 3, Charles Edwards, chief executive officer of crypto asset manager Capriole, exposed what he called the "The 12 Bitcoin Capitulations."

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" Risk-returns manipulated favorably" for Bitcoin

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With BTC rate action recouping from multi-year lows yet still hovering near essential bearishness support, viewpoints vary commonly regarding what will certainly happen following.

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Some are demanding a go back to degrees also lower than June's $17,600 trough, while others suggest that a "bearishness alleviation rally" can take BTC/USD as high as $40,000 initially.

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For Edwards, the raw evidence recommends that the past months have been bearish sufficient which behind the scenes, Bitcoin has actually been quietly capitulating.

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"The raw matter of evidence for significant Bitcoin capitulation today is ridiculous," he wrote about his 12 vital examples.

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