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The opening of the market in the US (the beginning of trading) began with sad news for supporters of BTC – the main digital asset fell by 1.5% in price (to $ 31,000). Analysts and experts immediately began to comment on a small but sharp jump in the value of bitcoin. Among the main reasons for the incident, according to experienced traders, the active spread of rumors about the possible capitulation of miners, who until today do not leave their previous positions, continuing to accumulate BTC.
Analysts believe that the decline in the digital asset market that has been going on for more than a month greatly affects the mood and interest of miners. According to experts, the so-called “status quo” of cryptocurrency miners may give slack this summer. If we assume that such forecasts are really being implemented, then Bitcoin may well repeat the scenario of 2018, falling in price to a 4-year low.
Well-known crypto analyst Ian Worcesterfeld in the recent publication of his information blog Bitcoin Market Intelligence noted that, in his opinion, soon BTC will lose some of the value accumulated last week.
A similar scenario is adhered to by another popular trader, a member of CryptoQuant and an analyst, better known under the pseudonym “Venturefounder”.
“As of today, the cost of miners’ savings is much higher than spot. This really indicates that there is an option for the capitulation of the miners of digital assets, which, in turn, will lead to a “bear bottom”. Despite the presence of a serious threat, so far there is no particular panic. We should not underestimate the miners, because they are experienced manipulators in the market, so without a significant pretext they will not risk taking serious steps, “the analyst summed up.
Recall, earlier we reported that, for example, in the Asia-Pacific region, the opening of the session began with completely opposite events than in the US – BTC was traded at $ 31,701.
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