Bitcoin Cash

Cryptocurrency

2024

Bitcoin

Cryptocurrency analytics firm Alphractal has revealed a significant change in miners’ behavior, noting that Bitcoin, Litecoin, Dogecoin, and Bitcoin Cash miners have stopped selling their coins.
This is in stark contrast to their typical strategy of exploiting price fluctuations to stay in business.
According to Alphractal, miners have historically been opportunistic sellers, taking advantage of upward price trends to generate the profits necessary to sustain their mining operations. Last year, Bitcoin miners in particular took advantage of the entire price increase from 2023 to 2024 to sell their BTC holdings. During this period, Bitcoin hash rate saw a dramatic increase due to increased competition among miners, which significantly increased the computational power required for mining. As a result, many miners were forced to sell their coins in order to remain profitable.
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However, Alphractal noted that the selling pressure from miners has now almost disappeared. With Bitcoin’s value currently at lower levels and mining profitability under pressure, miners are holding on to their assets rather than selling, signaling a potential decrease in supply entering the market.
This shift in miners’ behavior could impact the broader cryptocurrency market, particularly as it relates to supply and demand dynamics. If selling pressure from miners remains low, it could support higher prices for these digital assets in the near-term, according to analysts.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/analysis-company-reveals-miners-stop-selling-their-coins-in-these-four-cryptocurrencies/" rel="noopener noreferrer nofollow">Analysis Company Reveals: “Miners Stop Selling Their Coins in These Four Cryptocurrencies”</a>

Analysis Company Reveals: “Miners Stop Selling Their Coins in These Four Cryptocurrencies”

Bitcoin Sistemi EN

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