Analyst Omkar Godboul of the well-known cryptocurrency portal Coindesk commented on the market situation. He noted that miners sell more BTC than they produce. In this case, the value of coins recovered after falling to $ 3,800 by only 80%. According to the expert, 2 788 BTC tokens were sold in the last two weeks, while only 1 588 coins were produced during the given period.
According to digital assets data analyst Connor Abendshine, the current situation is a favorable indicator. He speaks in favor of increasing the rate of bitcoin in the future. The market has almost recovered, despite the fact that the volume of token sales by miners has increased significantly.
If the value of Bitcoin rises from local lows, and buyers absorb additional coin offerings from miners, this is a sign of strength in the entire cryptocurrency market. Abendshine is convinced of this, so he advises not to rush to get rid of his savings to investors.
Another position was chosen by Alexander S. Blum, Chief Operating Officer of Two Prime. He believes 2 788 bitcoins are a relatively small amount, simply not capable of seriously affecting the value of BTC and the state of the cryptocurrency market as a whole.
Sales at 2 788 Bitcoins were not enough to trigger a noticeable movement in BTC value. Compared to the number of coins in the world, the sales of miners do not exceed 1%, which is very small.
Yesterday, the complexity of BTC production showed the largest decline over the past 8 years, down 16% at once. The hash rate of the Bitcoin network has also decreased. At the moment, this value remains at the level of EH / s, which is about 45% lower than the indicators recorded at the beginning of the current month.