Is it a good sign for bitcoiners? Or we should get ready for a massive dumb incoming?
Miners might be holding for the short-term, hoping bitcoin keeps achieving new all-time highs, but I can't imagine that they're going to hold their mined BTC for the long-term. Not that I have expertise in mining operations, but I'm assuming the costs involved in running a huge mining farm have to be paid for with fiat currency (like the electricity bill for example). They're going to have to sell eventually.It's in the miners' interest not to crash the market, so I would think that the bigger mining operations would consider how to sell large amounts of bitcoin without moving the market--e.g., not dumping a ton of it onto the market all at once. But who knows? I think it's smart for them to hold what they can, as this bull market still has some powerful legs, but miners aren't in the business of speculating on bitcoin's price.
