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

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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.

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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.


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