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Bitcoin Becomes Rare because Miners Sell Less BTC

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Suba

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Aug 9, 2020
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Bitcoin (BTC), recently by several institutions and many retail investors have provided incentives to BTC miners to start hoarding Bitcoin, instead of selling it.

Looking critically at the Bitcoin miner's wallet or address through Glassnode's analysis, most of the BTC miners haven't sold their crypto, even though the price of BTC has gained significant value since the third Halving.

Glassnode's analysis reveals that BTC miners currently own more than 1.8 million BTC.Just like BTC investors, miners have reduced their selloff.

This action has limited the amount of BTC supply in the market, giving rise to its own dynamics in the market which creates a Bullish scheme for Bitcoin.

Limited supply is certainly a breath of fresh air for HODLers who have held their crypton for a long time because they follow the law of "Supply and Demand", a reduced supply will trigger an increase in prices because the amount of demand is fixed or increases in line with the turmoil of global conditions that triggers many people to seek alternatives. others to keep their property safe.
 

Niftyyem

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Aug 22, 2020
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I am hoping that this development is going to reflect on the price of bitcoin very soon. I must confess that we need that breath of fresh air especially for those who hodl the coin and the altcoins
 
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