Bitcoin Miners Stashing Their Coins for Higher Price By CoinQuora – Investing.com

SourceInvesting.com
SectorTechnology
CountryMiddle east

Bitcoin Miners Stashing Their Coins for Higher Price miners are hoarding away their coins for higher prices. Glassnode shows that miners’ BTC balances have increased since March. A new all-time-high for a daily hash rate of 178 exahashes per second on April 6. With 5,000 BTC added to Bitcoin’s unspent supply since February, miners are back in growth mode. Bitcoin miners are hoarding away their coins for higher prices. It comes with direct transfers from miners to exchanges, plummeting nearly 40% since mid-March. The data from on-chain analytics provider Glassnode shows that miners’ BTC balances have increased since March. However, following heavy outflows throughout January and consistently reduced selling during February and earlier in March. Also, Glassnode CTO Rafael Schultze-Kraft, noted several metrics leading to recent miner growth.

This includes flows from miner addresses, miner position net change, and unspent BTC supply. Glassnode’s data shows that unspent supply of BTC has never been transferred from the miner’s original recipient address. Besides, it will begin to rise...read more...