Threatens the Bitcoin due to the increasing pressure to sell the Miner to a new low?
In the week after the Halving, the Bitcoin sales, the Miner increased six-fold. The same time, exchanges also continued to account for dwindling reserves.
The miners are currently in a Bitcoin sell-off, whether it has been in the course previously, the data showed no clear changes. After Halving the Block rewards for miners decreased from formerly to 12.5 Bitcoins to only 6.25 BTC.
At the same time the number of people, the crypto-increased values of total assets of stock exchanges to deduct. Latest data shows that the reserves on crypto exchanges have reached a low point recently after the Bitcoin price low in the year 2018, and for more than 18 months.
Miners leave the sales to the six-fold rise
According to information from the crypto quantum of the outflows from Mining Pools have risen in the past five days, 600%. The resource platform for the crypto sector had to connect to BTC-sales of swimming Pools. The data analysis to date, 20.05.2020 comes to an outflow of 7.426 Bitcoins in the regarding week. In the Post-Halving-week sold Miner 1.066 Bitcoins
The Figures for the deduction of Coins from Mining Pools, and the movement within the past five days to witness the effects of Halvings. Miners boosted their sales from a well to 2,100 BTC to 5,000 Bitcoins a day before the third Halving, as the price of the crypto currency on the 10,000 U.S. climbed Dollar.
The waves of Selling on the part of the Miner correlated with the tilting of the Bitcoin exchange rate. On the weekend prior to the Halving of a massive selloff pressure intensified by the behavior of the Miner, resulted in a price decline in the amount of 1.2000 the US Dollar of the value of the crypto-currency.
The cops recovered, so they closed the gap to the price of Bitcoin Futures on the CME. However, the increasing sellout by Miner had pushed the price from the High at 9.966 US Dollar is already at a Low at 9.355 USD.
Bitcoin reserves on stock markets to 18-month low
In the last week we have reported that Bitcoins worth more $ 220 million after halving the 11. May have been deducted from centralized exchanges.
Glassnode data had demonstrated: The developed Bitcoin-Exchange Net-Flow model showed that users in the time of 12. to 15. May had deducted of 24,000 Bitcoins of platforms.
Previously, exchanges were held about 2.3 million Bitcoins with a total value of more than 21.7 billion US dollars. According to the crypto Quant, this number dropped again. The platform comes to the conclusion that the stock of reserves since March 2020 constant decline. In this time, the Bitcoin price broke to its lowest level since the end of the year 2018.
On 17 of the largest crypto exchanges in the Bitcoin-assets fell to a total of 1.18 million, with a total value of currently around 11 billion US Dollar equivalent.
