Bitcoin (BTC/USD) Be careful with this information. Miners produce more bitcoin, but sell less. What does it mean?

in #bitcoin4 years ago

We will analyze the bitcoin mined and the supply of bitcoin by the miners

Let's see

Captura de pantalla 2020-06-06 a las 6.57.51 p.m..png

We saw last weeks how miners produced less bitcoin as a result of the cost of producing and at the same time sold more bitcoin than miners to pay their expenses.

Captura de pantalla 2020-06-06 a las 11.35.09 a.m..png

Graphic Last Week

This gap between cost and benefit is being solved with the hast rate adjustments.

Captura de pantalla 2020-06-06 a las 7.51.03 p.m..png

Graphic Difficulty settings

The last one was on June 4 and we are already seeing the results

![Captura de pantalla 2020-06-06 a las 6.57.51 p.m..png]
(https://images.hive.blog/DQmWtaJDYZJyuim5pco7bjeARMGxzFW4pxFvHCm6FssSMEg/Captura%20de%20pantalla%202020-06-06%20a%20las%206.57.51%20p.m..png)

The mined blocks increase by days, but at the same time they sell less bitcoin.

Captura de pantalla 2020-06-06 a las 8.08.11 p.m..png

source graphics :https://terminal.bytetree.com/bitcoin

Mining graph per day and difficulty setting

In the graph we see how the mined bitcoin curve exceeds the difficulty adjustment curve

But the amount of Bitcoin sold is less than that produced

This causes the bitcoin offer to be lower in the market. That of continuing the following days with the same offer, this would put pressure on the price, before constant demand the price should rise

We must be attentive to this indicator because it is already indicating that with the difficulty adjustments, the mining capitulation, it may be ending and the miners retain their bitcoin to sell them at a better price.

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READ DISCLAIMER: this publication / analysis is only for general information purposes. I am not a professional trader and I will never be a financial advisor. The material in this publication does not constitute any trading advice of any kind. This is the way I see the paintings and what my ideas are.
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