Miners Total Stopped Selling Bitcoins

Kakmakr

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People see what they want to see..... If you read the news, you will see that there are significant flooding in China and some mining farms had to shutdown due to this. So the Bitcoin mining has seen a drop in the hashing as a result of this and those miners obviously will have to hold on to their coins, because there are no expenses to pay now.

Some of the big companies are rumored to only buying "clean" and unused coins from miners, so these coins are more in demand now. A lot of the big trades are done OTC ... so it does not even have an impact on the price. Roll Eyes

https://www.theblockcrypto.com/linked/101866/xinjiang-coal-mine-bitcoins-hash-rate

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: TangentC on April 18, 2021, 01:37:07 PM

$55k, looks like they started selling again. Tongue

Since the last day price has been in the 50k ranges again.

Like I said in my previous post, miners will sell because they are in for the profit not for the technology. That was back in 2010 when indie miners existed and used their CPU and GPUs to mine instead of playing games on them. Some miners might be an exception but the majority of them are doing it for the cash.

Hence corrections will happen and the price will fluctuate. Until the next big news comes in there will be a soft-cap at 60k USD and that will be a selling point. Crossing this level can happen if another bullish news appears or some country sets up more liberal laws about crypto. But defenitely not the miners holding their BTC, they will sell at profit.

noorammak

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With the current increase in the value of Bitcoin, the profit they bring is many times greater than the cost. They just need to sell the Bitcoins they have hoarded to keep the farm running. Big investment funds and businesses like Paypal and banks have joined in, so the price hike will last longer. Miners stop selling Bitcoin is a predictable act. They are following the trend very well.

yhiaali3

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Certainly, holding Bitcoin is a very good option now, especially with the expected correction appearing, the bitcoin price has begun to drop and there is expected to be a strong correction so the best option for miners now is Holding Bitcoin, for investors they have to wait for a strong correction and then buy good quantities of Bitcoin and holding until a new ATH occurs, most likely a few months later.

Streets 2.0

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So we saw a bearish trend today. The next week will show whether this is a market reversal or a simple correction. Obviously, one market is very dependent on information and, unfortunately, due to the specifics of trading, traders are not inclined to double-check this information. As soon as they receive a signal, they begin to react to it without going into much detail in the pursuit of profit. The market is characterized by nervousness because of this, and further we may see a search for a bottom or simply bounce off a strong resistance level, for example, at the level of 50 thousand dollars.

TangentC

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Quote from: nikolastech on April 17, 2021, 03:32:54 PM

Miners Total Stopped Selling Bitcoins, they simply not selling at this price.

https://ibb.co/kx66VKZ

We going up Wink

79k

$55k, looks like they started selling again. Tongue

passwordnow

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Quote from: virtualdn on April 17, 2021, 04:36:52 PM

Quote from: passwordnow on April 17, 2021, 04:34:51 PM

Quote from: virtualdn on April 17, 2021, 04:13:01 PM

Even if now all alt coins seem to perform well, BTC will take over again and I'm sure it will pass the $100K in no time.

It will shoot to $100k but if that time comes, are we going to sell already or we're going to have another hope and expectation if the charts are looking good then we may proceed to another ATH?

Quote from: virtualdn on April 17, 2021, 04:13:01 PM

HODL is the answer to your all financial questions

In my experience, I don't want to regret anymore of selling too early. Take profits that you're fine to absorb but if you're not needing it, I agree - HODL!

Some people may expect $100K others 100K Euros so it's not the same value for all. I might expect $220K

I haven't sold a bit since 2013 and I think I can still resist a few more years, it's not easy but you can do it. The reward will be nice in the end

However, no matter how high BTC goes I will never sell all to FIAT. That would be a dumb move.

I'm doing it and learned from my past mistake and I wish I was like you before when I can have that patience and didn't sold a lot during those runs that we've met before, those were not really bull runs and the price was quite low than what we are today.
Thanks for those words and it's very encouraging to hear someone who's been one of the early folks who did bought bitcoin and still holds a lot up to these days.

avikz

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Quote from: nikolastech on April 17, 2021, 03:32:54 PM

Miners Total Stopped Selling Bitcoins, they simply not selling at this price.

https://ibb.co/kx66VKZ

We going up Wink

79k

Not sure where in reality we will go, but when miners stop selling at a certain price point, it indicates a bullish mentality in the market. It means miners are expecting the price to go up in foreseeable future so they are holding up whatever they are mining.

I am not sure from where you have gathered the chart from but if that is true, I will have to believe that bitcoin will go higher in near future. Because that's what the producers are expecting!

Baofeng

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Quote from: FIFA worldcup on April 18, 2021, 04:31:17 AM

Quote from: nikolastech on April 17, 2021, 03:32:54 PM

Miners Total Stopped Selling Bitcoins, they simply not selling at this price.

https://ibb.co/kx66VKZ

We going up Wink

79k

What are you taking about here. We are not going up, we are not going down Cheesy

79K...No Way, its 50K lolzz

There is always someone who will sell at the top and create the panic. People might be looking for the news and reason for the dump, the fact is some whales took the profit at 60K and bought back at 50k.

Perhaps the OP spoke to soon, the market in the last 12 hours went down hard to $52k-$54k because of some unconfirmed tweets. Nevertheless, it's not a perfect time for the miners to sell, probably they will get even with the recent turn of events.

So let's see start of next week, I have a feeling that this negative movement will be over as institutions are going to scope more bitcoins in the next couple of days.

Rafael_Carrero

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The price is about $55-60K for a long time. There is no sign it will go up or down soon.

FIFA worldcup

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Quote from: nikolastech on April 17, 2021, 03:32:54 PM

Miners Total Stopped Selling Bitcoins, they simply not selling at this price.

https://ibb.co/kx66VKZ

We going up Wink

79k

What are you taking about here. We are not going up, we are not going down Cheesy

79K...No Way, its 50K lolzz

There is always someone who will sell at the top and create the panic. People might be looking for the news and reason for the dump, the fact is some whales took the profit at 60K and bought back at 50k.

Husires

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Will miners be able to hold those bitcoin for a long time? Most likely they will not, they will sell some to pay the electricity bills and most likely they will sell it when the price have $ 100,000 ATH.
The stopping of selling does not necessarily mean a 79k sign because the price will increase when an increase in demand happen which may happen if a company bought several thousand bitcoins.
the price moves contrary to what is expected. If we all expect that the price will rise, it may not increase.

Poker Player

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If the miners are not selling it would have to be seen who has sold on this dip. I guess they have been all weak hands, mostly retail investors, and also today is Sunday so you can move the price with less volume. In any case, I remain confident in the appreciation potential of Bitcoin in the short, medium and long term.

Peanutswar

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The market price of the bitcoin is too much volatile and as we see right now the price of the bitcoin continuously increasing and we expect too much for this price like the 100k USD and the 200k USD and still, the market is on the bullish market, if you want to hold your bitcoin for over a year this is a good decision but if you want to make a trade right now it's up to you it's better to join ride with the market volatility. Makes yourself knowledgeable with the market graph to keep awaken about the different possibilities of price movement.

dificanovi

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Quote from: virtualdn on April 17, 2021, 04:13:01 PM

Even if now all alt coins seem to perform well, BTC will take over again and I'm sure it will pass the $100K in no time. HODL is the answer to your all financial questions

yes that's what we have to do at this point, don't keep selling your bitcoins because the price of bitcoin has the potential to continue to rise. Better to hold your bitcoins now if you don't want to regret it later.
we can see concrete evidence that bitcoin has the potential to go up, by looking at the bitcoin price graph from the beginning of the year around $ 40,000 and now we are in April 2021 the price of bitcoin has reached $ 60,000.

masphie

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-= OI =-

I hope all miners can do that, and for sure bitcoin price will be fly to the moon. one of the reasons for the drop in bitcoin prices is the miners, although not all of them.

yazher

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The price right now has decreased a little and maybe it will go down to under $50,000 again. This kind of method will not work unless everyone still wants to buy this time. There are lots of people assuming the price will increase continuously in this coming month and I am one of them. But if no one will gonna take advantage of this current state of the market, then the price will continue to fall again.

TheUltraElite

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So anyway, I applied as a merit source :)

Miners have to sell bitcoin at one time. Their sole reason of putting up a mining farm and running it is the purpose of making a profit. Indie miners who are enthusiastic about "securing" the network have been washed out by the craze of mining companies and ASIC farms.

Hence the image posted by the OP, does not really draw any conclusion on the statement.

Maybe they are not selling right now but they will sell at one point. So you can always expect a gradual decay/downtrend on price because miners are also targeting high prices to sell but they dont want the price to drop down too much. I am sure miners do a lot more buy/sell difference calculations than the average trader does.

virtualdn

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Quote from: LFC_Bitcoin on April 17, 2021, 04:38:38 PM

Shitcoins have been doing well lately, bitcoin dominance is dropping. Usually when both these things happen it means we are close to a significant upwards breakout for bitcoin. If miners are HODLING rather than selling it all adds to the power of the next upwards pump.

Yes the trend will reverse pretty soon and all shitcoins will go down, while BTC will pump up to the moon and beyond. I'm very optimistic that this year it can pass the $200K.

LFC_Bitcoin

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Shitcoins have been doing well lately, bitcoin dominance is dropping. Usually when both these things happen it means we are close to a significant upwards breakout for bitcoin. If miners are HODLING rather than selling it all adds to the power of the next upwards pump.

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