Shortly from the Cryptoworld 29/03 | Bitcoin miners are selling coins faster than they can generate them – We won’t see the new ATH on Bitcoin after the halving
2 min read
Bitcoin miners are selling coins faster than they can generate them
According to data sites and a number of observers, bitcoin miners are selling coins faster than they can produce them. Ever since the market downturn on March 12 and the week of falling prices that followed, bitcoin miners have been struggling. So it seems that BTC miners are selling coins they have already mined in the past and wanted to put them down for worse times. It is quite likely that the sale of such a quantity of coins is due to the problems of some companies that have to pay the electricity costs owed. Or costs such as taxes or the purchase of new equipment. A much bigger problem can occur after halving.
Question: Who on Earth is crazy enough to be selling #bitcoin now?
— Arman The Parman (Bitcoin Moses) (@parman_the) March 25, 2020
Answer: Miners.
Relax, they're making money and spreading bitcoin to the world. Soon they'll have half as much to sell each day.
4 years later, they'll have half as much again
Donald Trump rescues the nation from the crisis!
US President Donald Trump signed a new law to protect the budget of American families. “This bill will provide $ 2.2 trillion to help the families and businesses of our nation,” Trump said. Americans are expected to receive a stimulus dose of up to $ 1,200.
It is the largest support package so far created. On the other hand, it can have a lot of negatives. Such printing of money, which will then be distributed free of charge, will significantly increase inflation.
We won’t see the new ATH on Bitcoin after the halving
The cofounder of Bitmain, one of the largest ASIC mining rig manufacturers worldwide, believes that cryptocurrencies show great promise in the midst of the current economic storm. According to a recent interview published on Friday, Bitmain’s Jihan Wu had said he was positive about the future of digital currencies like bitcoin. Wu explained that the recent bailouts and central planners’ stimulus injections could make digital currencies more valuable. During the discussion, Wu noted that the price of bitcoin also has a top and at times growth will be slower.
As bitcoin’s market cap grows, its volatility decreases and becomes more stable. That means we may not see abrupt spikes in its price. No matter how high bitcoin goes, one day it will reach a top. Before that, it will see prices [with] flatline growth with some twists in the next few years.
Wu also said:
I think the bull this time around may not come immediately after the halving. There likely will be a delay in time.
