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In the latest episode of “Best Business Show” Anthony Pompiliano, guest expert, well-known bitcoin maximalist and partner of Castle Island Ventures Nick Carter explained why the sale of mined bitcoins by miners should be perceived as a bullish signal.
According to Carter, at the moment when miners begin to sell their assets, cryptocurrency market participants should expect another market drop, similar to what they could observe in 2018-2019, when the price of bitcoin fell to $ 3,000.
The expert believes that this drop was caused by the liquidation of miners who could not afford to maintain unprofitable positions on their balance sheets and, as a result, were forced to sell their coins to wealthy buyers.
Nick Carter added with reference to the portal Bitcoin Treasuries that miners currently own from 40,000 to 50,000 bitcoins and the need to sell their coins has not yet been exhausted. It is when miners begin to sell, you can catch the real bottom of the market, Carter is sure.
According to the platform Coinmetrics, specializing in cryptanalysis, with the participation of miners, there was a record net inflow of bitcoins to exchanges at around $ 20,000 per BTC.
Given the fact that the $20,000 level has not been breached, it is possible that the miners have completed sales, the bottom has been reached and now the rebound will begin.
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