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[aryan4]

It is alleged that the sales of a mining company are responsible for the serious drop in bitcoin recently.
According to data received by CryptoQuant, Bitcoin miners at Chinese mining company F2pool initiated massive sales that lowered the BTC / USD exchange rate by almost 20 percent in less than 24 hours.
What do you think about this development and data?

 

[microunit]

I mean, Miners needed to sell in order for them to pay for the maintenance of their hardwares, this can also be seen the past years when mining companies oversold their bitcoins to pay maintenances and bitcoin plummets considerably

 

[achawaskey]

It looks like they want to increase the number of bitcoin in circulation or have another motive of doing that, and whatever the motive is it will not stop rising of bitcoin.

 

[Josemendez]

It is alleged that the sales of a mining company are responsible for the serious drop in bitcoin recently.
According to data received by CryptoQuant, Bitcoin miners at Chinese mining company F2pool initiated massive sales that lowered the BTC / USD exchange rate by almost 20 percent in less than 24 hours.
What do you think about this development and data?

In addition to this huge sales by these Chinese miners , there is also panic sell by both big and small investors . For now Bitcoin will struggle for a while

 

[aryan4]

I mean, Miners needed to sell in order for them to pay for the maintenance of their hardwares, this can also be seen the past years when mining companies oversold their bitcoins to pay maintenances and bitcoin plummets considerably

As you said, they were already selling constantly for some expenses. But I think they hold some of them in their hands. As far as I understand it is as if they sold some of what they were holding.

 

[microunit]

As you said, they were already selling constantly for some expenses. But I think they hold some of them in their hands. As far as I understand it is as if they sold some of what they were holding.

Yep I think so too that they are holding some it would be a bad move for them to just sell of their mined bitcoins as bitcoin will surely rise up through time due to its nature being deflamataory

 

[aryan4]

In addition to this huge sales by these Chinese miners , there is also panic sell by both big and small investors . For now Bitcoin will struggle for a while

Even though the miners are constantly selling a certain amount, they may have sold much more than expected this time. I also agree that there are panic-style behaviors in violent falls.

 

[Niftyicon]

We certainly can see the impact of such sales on bitcoin presently. I really do not wish for bitcoin to struggle for long but the more the price plummets the likely it is for more panic selling.

 

[Brain]

I mean, Miners needed to sell in order for them to pay for the maintenance of their hardwares, this can also be seen the past years when mining companies oversold their bitcoins to pay maintenances and bitcoin plummets considerably

Yeah right they will always need to maintain their hardware site no two ways about it so of course the amount is huge so it 8s to sell their Bitcoin so that they can enough money for the maintenance. So nothing abnormal about it

 

[Josemendez]

Even though the miners are constantly selling a certain amount, they may have sold much more than expected this time. I also agree that there are panic-style behaviors in violent falls.

Anyone who wants to holdl for long should invest now that the price is still struggling. It just a matter of time and all these things will come to past .

 

[Brain]

Anyone who wants to holdl for long should invest now that the price is still struggling. It just a matter of time and all these things will come to past .

Definitely, it wouldn't be a bad idea to invest now. Upon all the prediction I'm still envisage the rising more of Bitcoin and I know it will be so in months to come

 

[sagefave]

There is a lot of demand for bitcoin especially as the price goes down. The Chinese miners who invested in mining equipments also have a profit target, so it shouldn't be a surprise that they will at some point dump their bitcoin. The only disadvantage is the panic selling engaged in by amateurs.

 

[aryan4]

Definitely, it wouldn't be a bad idea to invest now. Upon all the prediction I'm still envisage the rising more of Bitcoin and I know it will be so in months to come

I think we, as small investors, always expect an increase. Frankly, my expectations are the same in the long run. I hope we are not mistaken.

 

[Josemendez]

There is a lot of demand for bitcoin especially as the price goes down. The Chinese miners who invested in mining equipments also have a profit target, so it shouldn't be a surprise that they will at some point dump their bitcoin. The only disadvantage is the panic selling engaged in by amateurs.

You won't really blame the amateurs ,because they won't want to lose big amount of money due to the dump. This is the challenge whenever miners sell .

 

[sagefave]

The problem with amateurs is that they think working online is a breeze, they want to get in today and make it big before midnight if it were possible. What they fail to understand is that consistency is key.

 

[Josemendez]

The problem with amateurs is that they think working online is a breeze, they want to get in today and make it big before midnight if it were possible. What they fail to understand is that consistency is key.

Well you can't blame them . All these comes from experience . I think that is what they need to understand how cryptocurrency works .

 

[aryan4]

There is a lot of demand for bitcoin especially as the price goes down. The Chinese miners who invested in mining equipments also have a profit target, so it shouldn't be a surprise that they will at some point dump their bitcoin. The only disadvantage is the panic selling engaged in by amateurs.

the miners somehow at least have to sell it for expenses but I think it is selling a lot more. After all, they thought of selling at high prices and making a profit.

 

[crypworld]

This is the same situation right now. Someone has made a huge sale, the reason for the big dip in the value of bitcoins

 

[Josemendez]

This is the same situation right now. Someone has made a huge sale, the reason for the big dip in the value of bitcoins

So far , there has never been any news with respect to any large movement of bitcoin . Whale alert has always been around to update such movement

 

[aryan4]

I do not know what and who were effective in the downward movement from around 60 thousand dollars to these levels. I haven't seen any clear data on whale activity and miner sales. Markets seem to be moving in their own dynamics somehow.