Bitcoin Miners Done Selling? 5 Things to Know for BTC Price This Week

[SRShanuka2020]

Bitcoin Miners Done Selling? 5 Things to Know for BTC Price This Week

Bitcoin (BTC) begins a new week in uncertain times after regaining $9,000, but where is BTC/USD headed in the coming days?

Cointelegraph Markets highlights five factors driving Bitcoin price action for the week ahead.

Stocks' optimism returns with $9,000
Following a major slide on Friday, stocks' futures were gaining early on Monday, despite ongoing pressure from COVID-19 concerns.

The Dow Jones Industrial Average, S&P 500 and Nasdaq futures all rose modestly, cementing a quiet weekend that saw Bitcoin outperform in terms of volatility.

BTC/USD, which has shown a tendency to copy stock market movements in recent weeks, briefly lost $9,000 support on Sunday before regaining the level.

The move had in fact been long coming — most of last week saw $9,000 testing in a slow grind down away from five figures.

Further weakness in the S&P 500, with which Bitcoin has been 95% correlated in recent months, could be particularly damaging in the short term, trader Tone Vays warned on Thursday.

Nevertheless, some traders were optimistic. Cointelegraph Markets analyst Michael van de Poppe noted that even at recent lows of around $8,900, Bitcoin was still up 140% since March.

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[aiviaa485]

It's all about the Covid pandemic19 because all that happened was to make their assets worthless.
I also think the same where these miners sell all of their Bitcoin assets for their personal interests in life.

I hope that the sale of Bitcoin by these miners is complete, because if it hasn't been completed, the Bitcoin will go back down, maybe up to 8,500 USD.

[Tanimariya]

Many bitcoin miners are selling their bitcoins. Because they think that the price of bitcoin will go down. But I think none of them know that it is foolish to sell bitcoin at the moment. Little do they know that the price of bitcoin will rise. Many people are talking about this price issue. So they are being defeated by the decision. I don't think bitcoin will cost $8500. Will remain stable at $9k. Those who will invest in this moment will be profitable.

[vegasus]

I am not sure if all miners do the same thing that they sold their Bitcoins. It is only a regular dump or pump done by whales. So, there is no correlation to all miners. I think miners prefer to keep their Bitcoins and wait for the next year to seel once the price can increase high.

[Paglamon]

I know that bitcoin is the biggest member of the blockchain. Bitcoin is the most popular blockchain. Those who are joking about the price of bitcoin do not actually have bitcoin. The ignorant speak and comment more. The price of bitcoin will go down, the future of bitcoin is not good, bitcoin will not survive, these things are said by the ignorant. I don't think anyone can eradicate bitcoin. Its value will increase in the future.

[IyemRoker]

No, they haven't sold all of the Bitcoins because I'm sure these miners have guaranteed themselves in other blockchain industries, for example in creating a new altcoins for business expansion.
For example, Miners named JohnMiners created a company specifically for Bitcoin mining but behind the scenes as a miner also created altcoins named John coins.
John This coin wants to have a Bitcoin supply to prop up the price means it must have a lot of Bitcoin and it is certain to be taken from mining which is called JohnMiners. Cmiiw !!!

[Alcor]

If the price of bitcoin has fallen slightly, this does not mean at all that the miners are selling their mined bitcoins. The price of bitcoin is affected by many different factors. Moreover, this occurs in the context of the ongoing pandemic of the coronavirus. Recently, the price of bitcoin has been rising slightly above $ 9,000, then falling again. In general, for the time being we can say that its price even stands still. Today it is $ 9,306.

[Andruha1993]

I don’t know why miners sell their bitcoins. They may no longer lie in him. But still, it seems to me that most of the miners leave bitcoin for themselves and wait for a high price.

[gunhell16]

Many bitcoin miners are selling their bitcoins. Because they think that the price of bitcoin will go down. But I think none of them know that it is foolish to sell bitcoin at the moment. Little do they know that the price of bitcoin will rise. Many people are talking about this price issue. So they are being defeated by the decision. I don't think bitcoin will cost $8500. Will remain stable at $9k. Those who will invest in this moment will be profitable.

Not all bitcoin miners are selling it. This is just an opinion of mine only Because I knew that there are a lot of bitcoin fanatics out there who are willing to holder Bitcoin even it takes years before it spikes the price in the market. And for sure it will bounce at any moment, that's why it's called volatile right?

[alltalk]

Not all bitcoin miners are selling it. This is just an opinion of mine only Because I knew that there are a lot of bitcoin fanatics out there who are willing to holder Bitcoin even it takes years before it spikes the price in the market.

I agree with you that there are probably many bitcoin fanatics, including the miners. It is hard to claim that all the miners have sold all their Bitcoins as I doubt how we know or get the data about it. The miners won't announce to the public that they are selling their Bitcoins. Most of them prefer to be anonymous as being anonymous holders are safer. It will be too risky to let people know about our activities as Bitcoin holders.   

[gourav787]

Many bitcoin miners are selling their bitcoins. Because they think that the price of bitcoin will go down. But I think none of them know that it is foolish to sell bitcoin at the moment. Little do they know that the price of bitcoin will rise. Many people are talking about this price issue. So they are being defeated by the decision. I don't think bitcoin will cost $8500. Will remain stable at $9k. Those who will invest in this moment will be profitable.

Yeah , i also Think it . Bitcoin minner need to pay a high Bill for electricity and other things . So I think they're  store Their coin for long-term holding Till it's price didn't touch a good value .

[Noverteno]

There can be no unity in actions among miners, as well as among the total number of cryptocurrency users. Therefore, it is hardly worth arguing that miners are massively selling bitcoins. If this is partially done, then for the short term, counting on their purchase with a temporary decrease in their prices. For some time now, the price of bitcoin has relatively stabilized, so we can hardly expect its further fall.

[Tnoy30]

There are many good article writers who write good articles. But there are some writers who think unrealistically. However, I think the price of bitcoin will be above $ 9k. But I know that many bitcoin users are selling their bitcoins. Because they are going through a financial crisis. The main purpose is to sell bitcoin in times of crisis. Holding is not a wise thing to do. However, those who have a lot of money can be profitable if they buy bitcoin. You have to go to any exchange to buy bitcoin. Then you have to hold the btc in a privacy wallet. It would be better to put it in a popular exchange like unnecessary Binance. But the holder must wait for the higher price.