The last time people and companies mining the first cryptocurrency sold just as much stock in January 2018. This was one of the reasons for the beginning of a long-term decline in the BTC rate from $ 20 thousand to $ 3.2 thousand.
The index, showing the volume of Bitcoin sales by miners, peaked in three years, the analytical service CryptoQuant reported on its Twitter account. Experts believe that miners sell the mined cryptocurrency on trading platforms or through over-the-counter services.
https://twitter.com/cryptoquant_com/status/1336903546348785666?s=20
The value of the indicator has reached 8.6 points. The last time it was at the same level was in January 2018. A month before that, bitcoin set a price historical maximum of $ 20 thousand, and then entered a phase of long-term decline and by December 2018 fell in price to $ 3200.
In early December, a sharp increase in the number of coins sent by miners to exchanges was reported by the analytical service Glassnode. At the same time, experts from CryptoQuant noted that large investors also transfer coins to trading platforms. Robbie Liu, an analyst at OKEx, suggested that the whales could take advantage of the rise in bitcoin's value to $ 20,000 to sell assets and lock in profits.
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