Capitulating Miners Before the Halving Is Bullish for Bitcoin

2019-11-20 17:31

Bitcoin’s mining difficulty suddenly dropped. The move down indicates that inefficient miners are going out of business. The capitulation of weak miners is long-term bullish for the dominant cryptocurrency.

Bitcoin’s slow descent from the 2019 high of $13,880 to its current level of $8,130 is starting to put weak miners out of business. Over a […]

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Bitcoin Miners Appear Not To Sell Or Care About Price, Is This Bullish?

Data from CryptoQuant suggests that Bitcoin miners might, after all, not care about price and all the fear, uncertainty, and doubt (FUD) in recent days. Bitcoin Miners Are Not Selling According to CryptoQuant’s Miners’ Position Index (MPI), a ratio between the total miner BTC outflows and the 365-day moving average of the same reading, Bitcoin miners have not been sending their coins to external addresses, typically exchanges.

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