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Bitcoin rompe decisivamente por encima de la resistencia

Bitcoin ha salido de un triángulo ascendente.

Hay soporte en $ 15,800.

Es probable que BTC se encuentre en la sub-ola final de la quinta ola

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The Trust Project es un consorcio internacional de organizaciones de noticias que construyen estándares de transparencia.

El precio de Bitcoin Profit finalmente se separó del área de resistencia de $ 15,800 y alcanzó un máximo de casi $ 16,500.

Si bien podría ocurrir una disminución a corto plazo para validar el área como soporte, no parece que BTC haya alcanzado una cima todavía.

Bitcoin estalla

El precio de Bitcoin se había estado negociando por debajo del área de resistencia de $ 15.800 desde el 5 de noviembre. Después de crear un triángulo ascendente, el precio finalmente pudo romperse ayer, alcanzando un máximo de $ 16,494 antes de disminuir ligeramente.

Es probable que el área de $ 15,800 ahora actúe como soporte y también coincida con una línea de soporte ascendente.

A corto plazo, BTC ha comenzado a mostrar debilidad. Después de crear dos velas envolventes bajistas, el precio ha creado un patrón de estrella vespertina , que normalmente se considera un patrón de inversión bajista.

Por lo tanto, es posible que el precio retroceda para validar el área de $ 15,800 como soporte, junto con la línea de soporte ascendente, antes de eventualmente moverse hacia arriba.

A pesar de la ruptura, la tendencia diaria ha comenzado a mostrar debilidad en forma de una considerable divergencia bajista en el RSI, que también se encuentra en territorio de sobrecompra.

Sin embargo, ni el MACD ni el Oscilador Estocástico muestran debilidad.

Además, el precio ha alcanzado el nivel de resistencia de 0.786 Fib en $ 16,140 cuando se mide desde el precio más alto histórico de 2017.

Al combinar esto con la divergencia bajista, muestra que es probable que BTC se esté acercando a la cima de su movimiento ascendente.

Si el aumento continúa, el siguiente nivel de resistencia se encuentra en $ 17.264.

Bitcoin at $ 100,000 in the next bubble – Kraken says it … without saying it!

It’s Coming and Going for Bitcoin – Optimistic Bitcoin (BTC) price predictions were already plentiful during this long period of price stagnation. With what could now be the start of a new bull run , there is no limit to optimism: $ 20,000, $ 100,000 or, why not, 288,000 for a single Bitcoin Revolution.

Kraken sees Bitcoin surpass old high soon

In its last report from October 2020, the crypto-exchange Kraken is very confident about the future of Bitcoin prices. The trading platform is therefore convinced that BTC is in a dynamic that will bring it at least to its previous ATH ( all time high ):

„Given that bitcoin has just reached a price spike that had not been seen for 33 months, thus achieving a new high after three years of falling prices (…) a rise to $ 20,000 seems very likely In the coming months. “

Reaching its new high only seems like a step in the evolution of Bitcoin’s prices now, if some bullish pricing models are to be believed. Kraken goes so far as to make a curve projection of up to .. $ 100,000!

Bitcoin to $ 288,000 and beyond?

In a tweet on November 8, BTC price analyst nicknamed PlanB (@ 100trillionUSD) renewed his confidence in his Stock to Flow (or S2F ) price modeling :

“People ask me if I still believe in my role model. To be clear, I have absolutely no doubts about the accuracy of theÀS2F model for Bitcoin, which will hit $ 100,000 to $ 288,000 before December 2021. In fact, I even have new data that confirms the shortage between supply and demand is real. In my opinion, 2021 will be spectacular. This is not financial advice. “

When we see investment funds specializing in institutional investors , like Grayscale , which start buying cryptocurrencies with hundreds of millions of dollars . One can indeed wonder if a breaking point will not quickly appear in the supply of new bitcoins.

As everyone knows the principle of supply and demand, and with bitcoin production that was halved with the halving last May, all the planets seem to be lining up for an upward price panic. Be careful though! You will have to fasten your seat belt, because if already usually „prices never rise in a straight line“, Bitcoin prices are famous for their volatility.

Bank of Russia: pandemic has increased regulators‘ interest in CBDCs

The economic crisis caused by the pandemic has accelerated some trends, such as the spread of e-commerce and interest in digital currencies.

The COVID-19 pandemic highlighted vulnerabilities in the global financial system and accelerated destabilising trends, including rising debt Bitcoin Freedom in emerging economies. During an online meeting of the Central Bank Governors‘ Club, moderated this week by Elvira Nabiullina, Governor of the Bank of Russia, participants expressed unanimous views on the long-term consequences of the current economic crisis.

During the meeting, the 26 central bank representatives from Central Asia, the Black Sea region and the Balkan countries also highlighted the positive effects the pandemic has had on e-commerce and digital settlement technologies. From a central bank perspective, these trends are driving regulators to take Central Bank Digital Currency more seriously than ever before.

The vast majority of central banks around the world are already studying and developing some form of CBDC: the growing interest is also reflected in the ever-increasing number of official speeches addressing the issue.

In October this year, Nabiullina stressed that a possible Russian digital rouble will not have the same level of anonymity as cash:

„However, we should not confuse anonymity with the confidentiality of digital rouble transactions. In fact, there will not be the same level of anonymity made possible by cash transactions. But confidentiality will be enhanced.“

In a follow-up meeting at the Central Bank Governors‘ Club, this time moderated by Alexey Zabotkin, deputy governor of the Bank of Russia, participants agreed on the need to assess the potential impact of CBDCs on the monetary policies and financial stability of states, as well as to develop procedures to mitigate possible cyber risks.

During the meeting, not only central bankers from the Commonwealth of Independent States, but also from Israel and China, as well as representatives from the International Monetary Fund, the World Economic Forum and the Bank for International Settlements were invited.

In the past, the Bank for International Settlements has conducted numerous studies on the global development of CBDCs, as well as collaborated with a number of central banks in the search for such a financial instrument. The World Economic Forum has recently focused on the development of regulatory frameworks from a transnational governance perspective.

Bitcoin creates a strong tailwind, traders are now turning to Altcoins – why?

Bitcoin tailwind, traders now also turn to Altcoins

The price of Bitcoin has started to consolidate after its huge increase in the last 48 hours.
Yesterday afternoon, BTC recovered to $13,200 before encountering strong resistance that forced it to fall.
Contrary to the trend seen during volatile upswings, Bitcoin Up did not return to its recent rally with much intensity after its rejection at these highs.
This suggests that the bulls are currently in control of the asset – and it could indicate that further rallies are imminent.
One analyst comments that he is taking some steps to hedge his Bitcoin exposure – by buying Altcoins.

Bitcoin and the entire crypto market are caught in a steady upward trend. While BTC was initially the only asset to recover, Altcoins are now catching up as they follow Ethereum upwards.

This latest price move differs from the rallies seen in the past because it is driven by a combination of immense technical and fundamental health.

It is important to note that it has also enabled BTC to break its previously strong correlation with the equity market.

One analyst believes that Altcoins could start outperforming Bitcoin in the near future. He notes that they look increasingly „attractive“ after their overnight rise.
Bitcin is beginning to consolidate while Altcoins are recovering

After the slight rejection of Bitcoin at $13,200, the Altcoin market has seen a significant recovery.

Much of this is due to the sharp drop in Ethereum’s price to over $400. This has led to massive capital inflows into smaller coins – and this seems to be rekindling the „old coins“ that were virtually suspended due to the recent sell-off of several weeks.

If Ethereum continues to reach the strength of Bitcoin, it appears that the old coins could recover together.
Analyst: Altcoins begin to look „much more attractive

Regarding his thoughts on the market, one analyst now comments that he is hedging his Bitcoin investment and is starting to move capital into Altcoins.

„I have hedged my BTC long position at 12.9, believe it or not. I don’t know, I have the feeling that something is changing. Altcoins look much more attractive now. Let’s see what happens, I’m going with the flow.“

If Altcoins start to get past the moment of Bitcoin, there is a great chance that those who are in the DeFi sector will make the biggest profits, because they have sold a lot in the last few weeks.


Il Bitcoin potrebbe subire una forte correzione nelle settimane a venire, in quanto forma una prospettiva ribassista a breve e medio termine. A ciò si aggiunge un „overhang“ di posizionamento sul mercato dei futures notato dagli analisti di JP Morgan.

Bitcoin potrebbe subire un forte calo verso i 10.000 dollari ancora una volta, dice il trader che a metà del 2018 ha previsto il prezzo più basso con una precisione dell’1,5%. L’analista ha notato che la cripto-valuta sta formando un grafico simile a quello visto prima del crollo della capitolazione di marzo:

14 BTC e 95.000 giri gratis per ogni giocatore, solo in mBitcasino’s Exotic Crypto Paradise! Gioca ora!
„btc che inizia a sembrare che lo abbia fatto a febbraio di quest’anno, prima che avessimo la capitolazione finale bassa. qualcosa da tenere a mente, in più weeekly sp500 close wasnt too crash hot, sembra un doppio top e un test di 3200 bassi di gamma sulle carte“.

Grafico dell’azione dei prezzi di BTC dalla fine di settembre e grafico dell’azione dei prezzi di BTC dall’inizio del 2020
con l’analisi del trader crittografo SmartContracter. Fonte: BTCUSD da
Non è l’unico a prevedere che Bitcoin vedrà un breve ritracciamento a breve termine.

Un team di analisti di JP Morgan ha recentemente dichiarato che la principale moneta crittografica rischia di scivolare più in basso, in quanto deve affrontare alcune pressioni fondamentali. Si tratta del valore intrinseco del Bitcoin Billionaire che inizia a ritardare l’azione dei prezzi e di un „overhang“ di posizioni lunghe sulle principali borse dei derivati Bitcoin:

„Gli strateghi di JPMorgan hanno detto di aver calcolato un valore intrinseco trattando efficacemente il Bitcoin come una merce e guardando al costo marginale di produzione“.

Gli strateghi di JPMorgan Vedi ‚Modesto‘ Headwind per il prezzo del Bitcoin

Grafico dell’azione di prezzo di BTC dall’inizio del 2017 con un’analisi del valore intrinseco degli analisti di JP Morgan.


La tendenza a lungo termine favorisce ancora decisamente i tori, dicono gli analisti.

In un discorso/lettera, la nuova direttrice generale del FMI Kristalina Georgieva ha detto che il sistema monetario ed economico mondiale sta affrontando un altro „Breton Woods Moment“.

Raoul Pal, CEO di Real Vision ed ex manager di hedge fund, dice che questo è un segno di stimolo fiscale in arrivo che potrebbe dare impulso alla Bitcoin:

„Parlando di Bretton Woods, questo articolo del FMI allude ad un enorme cambiamento in arrivo, ma manca di una reale chiarezza al di fuori del permettere molti più stimoli fiscali attraverso i meccanismi monetari… Fiat a livello globale varrà meno rispetto agli asset hard. E questo significa che l’oro e in particolare #Bitcoin diventerà IL modo per aggirare il sistema di valore sempre più basso. Creerà anche sistemi di incentivazione per altre nazioni ad optare per un sistema di valuta forte per attrarre capitali“.

Pal pensa che la principale criptocurrency potrebbe raggiungere un nuovo massimo in questo ciclo di mercato, dato che le monete fiat sono svilite en-masse

Donna incriminata per omicidio a scopo di noleggio con benzina Bitcoin

Una donna di 36 anni di Fallon, Nev. è stata incriminata con l’accusa di omicidio su commissione per aver cercato di pagare un sicario 5.000 dollari in bitcoin per uccidere il suo ex marito.

Un comunicato stampa rilasciato dall’Ufficio del Procuratore Distrettuale del Distretto Orientale della California nomina Kristy Lynn Felkins come l’oggetto dell’accusa. Secondo i documenti del tribunale, Felkins ha contratto i servizi di un sicario tramite un sito web della darknet nel 2016. Avrebbe pagato 12 BTC – allora del valore di circa 5.000 dollari – per ordinare un colpo al suo ex marito, con il quale aveva due figli.

LocalBitcoins e il killer del contratto

Secondo la denuncia penale presentata dall’ufficio del procuratore distrettuale nel febbraio 2016, Felkins ha contattato l’amministratore di un sito web della darknet, ormai disfunzionale, che offriva servizi illegali come l’aggressione, il rapimento e l’omicidio a pagamento in cambio di criptovaluta. L’amministratore la informò che far fuori il suo ex marito sarebbe costato 5.000 dollari in bitcoin, per un valore di 12 BTC.

Le registrazioni delle chat a cui ha avuto accesso la Northern California Illicit Digital Economy Task Force mostrano che usando lo pseudonimo „KBGMKN“, Felkins ha parlato a lungo con l’amministratore che le ha consigliato di ottenere il bitcoin da LocalBitcoins. L’amministratore l’ha poi informata della mescolanza delle monete, in modo da offuscare la transazione e da evitare qualsiasi potenziale indagine da parte delle forze dell’ordine.

La Raleigh News & Observer riferisce che l’ex marito di Felkins, Gabriel Scott, era pronto a partire per un viaggio a Chico, in California, all’epoca. È stato durante questo viaggio che il killer avrebbe dovuto colpire e „farlo sembrare una rapina“, secondo i registri della chat a cui hanno avuto accesso gli investigatori.

La trama si dipana

Il presunto killer, come si è scoperto, era in realtà un falso e il sito web era un sito di truffa che pubblicizzava tali servizi senza mai realizzarli. La denuncia criminale rivela che Felkins in seguito è diventato frustrato e ha cercato di ottenere un rimborso quando il killer non è riuscito a sparare a suo marito nella sua auto, come lei aveva ordinato. I registri della chat mostrano che lei glielo ha detto:

„Se non potete fare come promesso, allora è ora che io la smetta di perdere tempo [sic], ottenga un rimborso e trovi un’altra soluzione“.

Il sito web della darknet e le sue registrazioni sono venuti alla luce nel 2019 grazie a un patteggiamento in un caso separato di pornografia infantile all’estero. Il caso, che evoca i ricordi del famigerato caso della Via della seta, è perseguito dall’assistente del procuratore Grant B. Rabenn e Paul Hemesath. Se condannato, Felkins rischia fino a 10 anni di carcere.

Ist Bitcoin näher an seinem fairen Wert als wir denken?

Ist Bitcoin näher an seinem fairen Wert als wir denken?

Der Preis von Bitcoin reagierte auf die Vorwürfe der CFTC gegen BitMEX, indem er an einem einzigen Tag 300 Dollar seines Wertes verlor. Während die erwarteten Korrekturen für viele überraschend kamen, stabilisierte sich der Preis von Bitcoin bald, wobei die bei Bitcoin Evolution Kryptowährung zur Zeit der Drucklegung im Bereich von 10,5.000 $ gehandelt wurde. Das ist jedoch nicht alles, denn das Open Interest erreichte an den führenden Derivatebörsen neue Tiefstände. Es ist zwar schwierig vorherzusagen, wie es mit dem Preis der Kryptowährung weitergeht, aber die Finanzierungsraten deuten derzeit darauf hin, dass der Preis langsam ausblutet.

Bedenken Sie Folgendes: Es hat den Anschein, dass Privatanleger jetzt die Gebühr anführen und in geringer Zahl verkaufen.

Langsames Ausbluten oder plötzlicher Tod?

Wie man anhand der NET MPL-Karte von feststellen kann, verkaufen Kleinanleger mit Gewinn. Damals im Januar 2019, als die meisten Verkäufer Verluste verbuchten, fiel der Kurs der Kryptowährung auf den Charts noch stärker, bevor er sich im Juni 2019 wieder erholte. Eine solche Bewegung in den Charts von Bitcoin und die Frage, was mit dem Preis der Kryptowährung vor uns liegt, wurde in letzter Zeit von vielen diskutiert, wobei ein populärer Händler und ein On-Chain-Analyst twitterten,

Der fragliche Händler kommentierte das langsame Ausbluten der Bitcoin-Preise und fügte hinzu, dass dies zwar nicht notwendigerweise bullish ist, dass aber auch ein bearish outlook nicht gerechtfertigt ist. Diese Behauptung basierte auf der Begründung, dass alles, was die Charts hinuntergeht, Raum für eine korrigierende Struktur lässt. Gestern gab es jedoch einige interessante Bewegungen, die von der Karte der ausgegebenen Bitcoins von eingefangen wurden.

Die Blasen zeigen das Datum des Erwerbs von Bitcoin an, und interessanterweise wurde festgestellt, dass von den gestern verkauften Bitcoins ein hoher Prozentsatz über die Zeitspanne 2018-2019 verstreut war. Der prominenteste Verkauf war der Kauf von Bitcoin zu einem Preis von $17k und der Verkauf zu $10,5k. Denken Sie darüber nach – Ein HODLer hielt das Krypto-Asset fast zwei Jahre lang und verkaufte es, als der Preis um 300 $ gefallen war.

Bedeutet das, dass ein Puzzleteil fehlt?

Nun, der Krypto-Markt bildet einen deutlichen Preistrend aus, und seit Mai 2020 wiederholen sich ähnliche Preisaktionen in den Charts. Die Börsenabflüsse nehmen zu und die Zuflüsse sind zurückgegangen. Da HODLers ab 2018 Bitcoin mit fast 40% Verlust verkaufen, scheint eine Trendwende bei Bitcoin Evolution das Signal zu sein, das projiziert wird. Es ist jedoch schwer abzuschätzen, wann sich der Trend umkehren wird. Es besteht nur die Möglichkeit, dass wir uns ihm nähern, wenn sich der Preis von Bitcoin der 8,5t-K$-Marke (dem fairen Wert von Bitcoin) annähert.

Einfach gesagt, während viele On-Chain-Analysten glauben, dass das Krypto-Asset langsam blutet, könnte Bitcoin uns alle mit einem plötzlichen Tod überraschen.

MakerDAO enumera nuevas opciones de garantía: Eslabón de cadena, compuesto, bucle

Compound (COMP), Chainlink (LINK), y Loopring (LRC) son los nuevos tipos de activos colaterales adicionales al popular proyecto de criptografía MakerDAO a petición de la comunidad.

El anuncio de Maker llegó el miércoles, mostrando que la comunidad MakerDAO había votado en apoyo de la adición de las tres nuevas fichas a la plataforma: Chainlink, Compound, Loopring. Durante el verano, los miembros de la comunidad presentaron propuestas para las tres fichas mencionadas en el protocolo. Afortunadamente, esta semana, la comunidad votó a favor de la integración de las fichas a través del programa de gobierno en cadena de Maker. Los usuarios de la plataforma ahora pueden generar préstamos DAI bloqueando esos nuevos tokens en el protocolo. DAI stablecoin es un token ERC20 que está vinculado al dólar americano.

Siguiendo el nuevo listado de LINK, COMP, y LRC, MakerDAO ahora soporta un total de 11 nuevos pares de bóvedas DAI en su protocolo desde el comienzo del año. Otros símbolos en los que los usuarios pueden confiar para asegurar los préstamos DeFi son Tether (USDT), Kyber Network Crystals (KNC), TrueUSD (TUSD), Wrapped BTC (wBTC), Paxos Standard Dollar (PAX), USD Coin (USDC), Decentraland (MANA) y así sucesivamente.

Rectificar la inestabilidad de la clavija de la AID

En un momento dado, la AID perdió su ficha de 1 dólar, por lo que el listado de estas monedas tiene como objetivo inspirar la colateralización de más AID a medida que los usuarios tengan más opciones. Durante la reciente locura de la agricultura de rendimiento del DeFi, se produjo una inestabilidad de las clavijas en el AID. Por lo tanto, la comunidad de creadores votó -en un intento de rectificar la inestabilidad- a favor de la reducción de los requisitos de garantía para la bóveda principal del USDC de DAI, en la creencia de que llegarían al mercado más cantidades de DAI. Con 372 millones de dólares bloqueados, el USDC sigue siendo la opción de colateralización más popular de DAI.

La implementación de la propuesta que la comunidad sugirió parece haber desnudado las frutas ya que el precio del AID bajó a 1,01 dólares. Incluso mientras la comunidad propone mantener un precio fijo de AID, Rune Christensen, fundador de MakerDAO, cree que tener más garantías es el camino a seguir ya que la única opción es tener más monedas en el mercado.

Los usuarios de Chainlink reaccionan al listado

Después de la nueva lista, un par de usuarios de Chainlink han salido a criticar la adición de la ficha de LINK. Los usuarios argumentaron que el depósito del cifrado del LINK en el protocolo representa una importante amenaza para la seguridad. Su principal argumento fue que el oráculo existente de MakerDAO es vulnerable a numerosos ataques porque está centralizado. Como consecuencia, prefieren mantener su moneda en lugar de arriesgarse a depositarla a menos que MakerDAO cambie a oráculos Chainlink.

Sin embargo, la comunidad de Creadores pareció apoyar positivamente la adición de LINK y otras fichas ya que lo ven como un buen esfuerzo para incentivar más préstamos AID en la plataforma. La disminución de la estabilidad de la IAD en el mercado ha causado que el precio fijo de la IAD sea inestable. Por lo tanto, la reacción de los usuarios de LINK ha demostrado que es probable que interfiera con las buenas intenciones del Creador.

Historically bullish Bitcoin chart pattern shows: There is further upside potential for BTC

In March, few would have thought that Bitcoin is where it is today.

The coin has risen over 200% since hitting its lows in March – which shows that the crypto market is far from dead.

When the lows hit, some feared that cryptocurrencies would not be around for long.
However, some analysts have predicted Bitcoin’s ongoing rally.

One of those analysts predicted the cryptocurrency would test $ 10,000 again by May, just a few months after the crash.

The chart pattern he used to predict this price action now suggests that Bitcoin has headroom to expand.

Another trader who predicted the rapid rebound in Bitcoin price reflects this view.

Bitcoin has another upside potential: textbook chart patterns

When Bitcoin crashed to $ 3,500 on March 13, few expected the coin to bounce back anytime soon. In fact, there were many at the time who believed the cryptocurrency was on its way to $ 1,000 and possibly below.

However, some stuck to their belief that Bitcoin would experience a rapid reversal.

One of these analysts shared the chart below. He suspects that the cryptocurrency was traded in a so-called macro-accumulation pattern.

This Wyckoff accumulation analysis suggested that the cryptocurrency would hit $ 10,000 in May or June and then correct. That happened too.

The analysis also predicted that Bitcoin would see another spike after hitting its low in July. That too happened.

While the analysis wasn’t entirely accurate, as it predicted that Bitcoin would be $ 14,000 to $ 15,000 higher in its second leg, it was accurate in predicting the timing and general direction of the cryptocurrency.

The same analysis now suggests that after the correction and subsequent consolidation, Bitcoin is ready to move higher.

On-chain trends paint a similar picture

The trends in the chain are consistent with the bullish picture this analysis paints.

So there is a clash of on-chain signs after which Bitcoin is prepared to move up in a macro timeframe. CryptoQuant, a crypto asset analysis company, recently shared 10 of these trends. They are as follows:

Position index of the miners
Hash bands
Average of all stock market outflows
Reserve for all exchanges
Stablecoin supply ratio
All exchanges stablecoin reserve
MVRV ratio
Ratio of network value to Metcalfe
Stock to Flow

One of the main reasons Bitcoin is set to continue to rise is because the network’s hash rate is reaching new record highs. For many analysts, this indicates an underlying upward trend.

Mijnwerkers bewegen ongebruikelijk grote hoeveelheden BTC – Wat betekent dit voor de Bitcoin-prijs?

A high number of Mining pools are moving BTC from pool wallets to exchanges, according to on-chain data analysis platform CryptoQuant.

CryptoQuant, which tracks Bitcoin Miner Flows data shows that a total of 11.372K worth of bitcoin has been transferred to various exchanges’ wallets.

The platform includes data from up to 98% of all miners on Bitcoin’s network, including Antpool, Bitclub Network, Bitfury,,, F2pool, Okpool, Huobi, and various unknown miners. CryptoQuant wrote:

“Miners are moving unusually large amounts of #BTC since yesterday. # Poolin, #Slush, #HaoBTC have taken the bitcoins out of the mining wallets and sent some to the exchange.”

CryptoQuant’s charts also indicate that BTC inflow to exchanges has been peaking since August 28 with the highest inflow of 11,908k recorded on September 1.

Significance of Miners’ BTC Movement Patterns

CryptoQuant tracks BTC flow between miners’ wallets and exchanges to evaluate investor behavior and the potential effect on BTC’s price. More inflow into exchanges usually indicates that miners are gearing up to liquidate which could increase selling pressure and drive prices down.

Similarly, if miners pull their BTC off of exchanges, it indicates plans to hold long term, which leads to increased buying pressure and higher Bitcoin prices.

A recent update by Weiss Crypto Ratings stated that in August, miners made 23% in profits from block rewards due to increased network activity and network fees.

“#Bitcoin miners enjoyed a 23% increase in revenue during August. Good for them-still lagging behind #ETH where fees are becoming a serious problem for users.” 

When the market rallies, the cost of transacting on the Bitcoin Billionaire network increases as more people are willing to pay higher fees to have their transactions processed faster by miners.

Miners’ Metrics Show High HODling Activity

According to data from ByteTree, miners have sold 1380 Bitcoin in the last 24 hours and generated 813 BTC, pushing their net inventory down by 567 BTC. They have also kept their miners ‘rolling inventory (MRI) at 169.83%, which is well above 100%.

An MRI lower than 100 usually means that miners are selling more than what they are mining, while a higher MRI indicates that they are hoarding more Bitcoin.

ByteTree’s founder and Chairman Charlie Morris stated that a high MRI is a bullish sign that tells a lot about miners’ sentiment and the strength of the bitcoin market. Miners tend to HODL in a weak market and are only willing to sell when they think that the market is well supported.

BTC’s current status doesn’t however inspire much confidence of a bullish market despite relentless bullish sentiment from many renowned analysts.

The coin fell by $1.1k from $12,000 in the last 24 hours and is trading down 2.21% at $10,892 which is a little above the $11,100-$11200 crucial support level.