Miners sell bitcoin to cryptocurrency exchanges, again

Майнеры продают биткоин на криптовалютных биржах, снова

The number of coins which are transmitted to and from the wallets of miners rapidly declined on Tuesday, reaching – 2935 BTC, the lowest level since June 2019, reports CoinDesk. In other words, the wallets of miners witnessed the largest outflow of coins for the year.

Source: Glassnode

“However, held a large output of miners. I expect a much larger wave of sales, which will begin soon,” wrote analyst popular cryptocurrency Cole garner, commenting on the chart of company analysts blockchain -CryptoQuant that shows a large outflow of miners at about 10:00 a.m. on Tuesday.

However, the net flow of miners doesn’t tell us how the coins were sent to the stock exchange for the elimination or sold under OTC transactions.

However, another indicator, which tracks the flow of coins from the wallets of miners to cryptomeria shows that almost 97% of the total outflow 2935 BTC from addresses miners was transferred to the stock exchange of cryptocurrencies on Tuesday.

Source: Glassnode

Total BTC volume 2844, which passed on a platform of exchanges, was the highest since March 26. This is a major leap in the overnight exchanges only 404 was deposited BTC.

The sudden increase in the number of coins available on the exchanges for liquidation, the cryptocurrency looks vulnerable to a significant drop in prices. Such bursts of outflow of miners previously preceded the fall in prices, although they do not necessarily mean that the fall will occur.

For example, August 2, 2019, the outflow has increased from 380 BTC BTC until 1824, however, the cryptocurrency continued the recovery path to maximum performance over $12 300 on 6 August.

Remains to be seen whether the latter will result in a surge of outflows miners a significant drop in prices. However, analysts expect falling prices, pointing to the fact that the miners spent less than they obtained in the last 24 hours, pushing a rolling Fund miners (MRI) higher than 100%.

Source: ByteTree

Usually, the miners keep the coins when you feel that the market is not strong enough to absorb their proposals.

At the time of publishing, bitcoin was worth $9350, losing a day of 3%. The price of bitcoin is trapped in the region of $9000 – $10000 for the fifth week.

As reported Coinews, J. Hao, CEO of the cryptocurrency exchange OKEx, argues that retail investors are likely to spend extra money on bitcoin, because anywhere else they will not be able to get such good returns from their savings.

The portal Coinews wrote that before alvingham activity in bloccano bitcoin slows down because the miners handle almost all of the expected transactions in manule.

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