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Complete Bitcoin Premium Analysis Cryptocurrency Market Next Steps

At the time of writing this market report, two good news had been scattered by many investor ears. 

The first of them, it is the return of the negotiations by the firm Goldman Sachs, which restarts due to the great institutional interest in buying digital assets, including Bitcoin.

In addition to the fact that MicroStrategy continues to buy more Bitcoins than it should, and as a second instance, the report made by criptonoticias; where it explains that the sale of Bitcoin by miners, and after the last price drop, has progressively stopped. This is really news to value a lot. Why?

The report says that Bitcoin (BTC) miners are keeping more cryptocurrencies than they sell in the markets. According to metrics from blockchain research firm Glassnode, after two months of spending, miners are saving their rewards again.

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The data shows that, between December 28, 2020 and February 25, 2021, miners exhibited a negative balance. That is, the sales were higher than the amount of cryptocurrencies they kept in their possession.

Additionally, it says that daily sales were higher during January with caps that reached almost 24,000 BTC. However, in February the trend began to decline with a sales cap of 6,100 BTC recorded on Friday the 5th.

After two months of sales, on February 26 Glassnode registered a positive balance in the miners’ addresses, which reached 1,368 bitcoins. A day later the balance was also favorable with 658 BTC saved.

The above is summarized in that, if the saving trend of miners continues or increases, the price of bitcoin could rise even more. The reason is that it would decrease the supply of BTC in the cryptocurrency markets, which would accentuate the shortage of bitcoin.

Read the complete report here https://rubikkav.com/insights/complete-bitcoin-analysis-cryptocurrency-market-next-steps/

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