đ„Hey guys!
đ„Basically in July Bitcoin miners sold up to 60% less than they had selling only about 6,500 of their Bitcoin in comparison to 14,600 the month before when most were forced to sell off their Bitcoin in order to afford the costs of keeping operations running. Here's a chart below to check out.
https://lh6.googleusercontent.com/tKpRJabes0v5rYoiTqd9QY4znJbQAAene_IXKQezlEKpxSF6ygtbNS4066xgbXhJQMzFUGmpcquYOU8r7mAVSFqZfJL3XcScFHAqxNNizeHw_Pa5bJ0HgMHqnD0217Y3D9QWu_96ug4iuYwnU8iYC4c
đ„Thanks to all this the sell-off by trading mining companies has basically more than halved although it's still higher than May's when miners were first faced with the plummeting profitability when mining at a large scale.
đ„This was all following that May activity in which miners came in and shocked the crypto community by selling off more than 100% of their production with public miner selling off basically 400% of their production during the markets bearish conditions that were popping up more and more which was the main bloodbath that hit, especially as Bitcoin lost that $28,000 mark.
đ„Basically it's a semi bullish note in the very least being that Miners are holding more of their gains now and likely sitting on their piles for the long run at least, signaling more confidence in the sentiment of the crypto market following everything that's happened alongside the possible idea that we may be exiting this crypto winter soon but whether or not that will hold is tough to tell of course, especially with the Fed having it's Jackson Hole meeting this week which deals with and addresses financial issues facing the world and these financial leaders working together as they can.
đ„I'm gonna leave the idea here for now but basically miners are selling less and that's a good shift in the very least and hopefully that number of sells can go down as the market sentiment and charts go up in the exact opposite way. Thank you guys so much for tuning in, if you'd like to leave a like or follow it'd be much appreciated. Thank you.
~ Rock '
đ„Basically in July Bitcoin miners sold up to 60% less than they had selling only about 6,500 of their Bitcoin in comparison to 14,600 the month before when most were forced to sell off their Bitcoin in order to afford the costs of keeping operations running. Here's a chart below to check out.
https://lh6.googleusercontent.com/tKpRJabes0v5rYoiTqd9QY4znJbQAAene_IXKQezlEKpxSF6ygtbNS4066xgbXhJQMzFUGmpcquYOU8r7mAVSFqZfJL3XcScFHAqxNNizeHw_Pa5bJ0HgMHqnD0217Y3D9QWu_96ug4iuYwnU8iYC4c
đ„Thanks to all this the sell-off by trading mining companies has basically more than halved although it's still higher than May's when miners were first faced with the plummeting profitability when mining at a large scale.
đ„This was all following that May activity in which miners came in and shocked the crypto community by selling off more than 100% of their production with public miner selling off basically 400% of their production during the markets bearish conditions that were popping up more and more which was the main bloodbath that hit, especially as Bitcoin lost that $28,000 mark.
đ„Basically it's a semi bullish note in the very least being that Miners are holding more of their gains now and likely sitting on their piles for the long run at least, signaling more confidence in the sentiment of the crypto market following everything that's happened alongside the possible idea that we may be exiting this crypto winter soon but whether or not that will hold is tough to tell of course, especially with the Fed having it's Jackson Hole meeting this week which deals with and addresses financial issues facing the world and these financial leaders working together as they can.
đ„I'm gonna leave the idea here for now but basically miners are selling less and that's a good shift in the very least and hopefully that number of sells can go down as the market sentiment and charts go up in the exact opposite way. Thank you guys so much for tuning in, if you'd like to leave a like or follow it'd be much appreciated. Thank you.
~ Rock '
