Bitcoin Surges To 23,000 As Miners Sales Sees Multi-Year Low

Bitcoin Surges To 23,000 As Miners Sales Sees Multi-Year Low


Bitcoin has continued with its bullishness as it surged its price above the USD$23,000 level, a positive signal amid miners reduced the sales of their mined coins. On-chain flows flagged by Bitifinex analysts indicate that the amount of Bitcoin moved from Bitcoin mining addresses to wallets owned by cryptocurrency exchanges has declined to multi-year lows.

Selling Power Low, Favorable For A BTC Rally                      

As per a Bitfinex analyst, Bitcoin miner sales are at a three-year low. The report claims that the selling could be a sign that Bitcoin miners are in the mood to accumulate coins as they expect the surge of prices of the flagship cryptocurrency.

Trending: Two Republican Senators Prepare To Endorse Trump In 2024 Presidential Race

The declined Bitcoin sales from mining companies mean

Continue reading


 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Daily Truth Report • DailyTruthReport.com
Thanks for sharing!
Send this to a friend