Tuesday, October 26, 2021
Home Crypto News Analysis According To CryptoQuant CEO-Miners Have Significantly Increased Bitcoin Selling

According To CryptoQuant CEO-Miners Have Significantly Increased Bitcoin Selling

- Advertisement -

The bitcoin exchange rate has already tried unsuccessfully to overcome the $20,000 mark several times. 

According to the analytical company CryptoQuant, this could be affected by the selling of BTC by miners.

Currently, Bitcoin is trading in the $ 18000 range. It seems that miners who have mighty BTC reserves expect the rate to continue falling and sell their BTC. 

Analysts consider that the Bitcoin price will fall to $17,600.

CEO of CryptoQuant, Ki-Young Ju, said that several large mining groups had started massive sales of Bitcoins. Ki-Young Ju told that he possesses Bitcoin but does not trade them against leverage. He also stressed that he would use leverage up to 5x when the time comes.

 

Earlier, the CEO of CryptoQuant said that BTC large bag holders’ sales also exerted the Bitcoin exchange rate’s pressure. The price drop was preceded by large transfers of BTC to cryptocurrency exchanges.

- Advertisement -
Ammarahttps://thecryptobasic.com/
Ammara Mubin is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Ammara authored more than 1,000 stories for TheCryptoBasic, CryptoComes and other fintech media outlets. She is particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

Good Games Guild Announces Triple IDO on Seedify, Ignition, MoonStarter

Jakarta, Indonesia, 24th October, 2021, Good Games Guild, a gaming hub that aims to create the largest virtual world economy by optimizing its owned...

YearnNFT Finance: An Advanced Approach to NFTs with Digital Art and Collectibles

Since August, the market sales with respect to NFTs have skyrocketed, where a single NFT sales round up to millions worth. There have been...

The Bank Of Israel Aims To Launch Its CBDC On Ethereum

For now, central banks around the world are still working on developing and testing their own CBDCs, but there are new ones that are...

Russian Central Bank Head Says Russia Is Not Ready To Launch Crypto ETFs

The head of the Bank of Russia, Elvira Nabiullina gave a negative answer to the question about the possibility of trading cryptocurrency ETFs in...

Spanish Banks Anxiously Waiting For Central Bank Approval To Work With Cryptocurrencies

Spanish banks are interested in providing cryptocurrency services directly to clients and expect the Spanish Central Bank will bring regulatory clarity for crypto.

Reddit Intend To Bring Its Non Fungible Token (NFT) Platform

Reddit is looking to hire people for what could become a new platform for non-fungible tokens (NFTs) and digital goods. ...

Second Bitcoin ETF, Valkyrie Bitcoin Strategy ETF (BTF) Started Trading On Nasdaq

On the Nasdaq Stock Exchange under the ticker BTF, a Bitcoin futures ETF from Valkyrie Investments began trading at a price of $25.5.

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.