Bitcoin miner wallets are frozen for the first time!
In a metric shared by blockchain analysis firm Glassnode, the needle points to positive territory for the first time since December 27.
Bitcoin miner wallets are the first since December 27 once stopped!
Moskovski Capital CEO Lex Moskovski shared a chart prepared by Glassnode, showing that Bitcoin miners stopped selling their BTC and started accumulating.
The pointer in this metric revealed by Glassnode is December 27. This is the first time since .
Miner Net Position indicator is in the green zone for the first time!
The chart by popular analytics company Glassnode says that an indicator (Miner Net Position -MNP) based on Bitcoin output from miners’ wallets has turned green for the first time since December 27th.
Glassnode data shows miners are finally starting to hoard their Bitcoins instead of releasing them.
So miners are no longer in a hurry to sell their Bitcoins. And after about two months of selling the BTCs they mined, they finally choose to accumulate.
MNP shows that miners have been selling for the past two months but stopped selling for the first time yesterday (February 26).
Are the Bitcoin price falling by miners?
Every time Bitcoin corrects, it is claimed that the decline is due to short selling miners.. However, the network data does not support this claim this time.
Based on this indicator; We can say that sales from mining wallets were not effective on the correction in Bitcoin price yesterday.
Source
What is Bitcoin mining and how is BTC produced? How to mine Bitcoin at home?
Is Bitcoin mining legal?
Owning and mining Bitcoin is legal in most countries. However, it is illegal in some countries such as Algeria, Egypt, Morocco, Bolivia, Ecuador, Nepal and Pakistan.. However, using Bitcoin in general and mining BTC is legal in most of the world..
What is Bitcoin difficulty?
Difficulty is a parameter that Bitcoin and other cryptocurrencies use to keep the average time between blocks constant as the network’s hashrate changes. Bitcoin difficulty rises as the number of miners working on the network and the computing power they provide increases.. On the contrary, it falls.