New Bitcoin Indicator Based on Mining Activity Emerges, Where is BTC Heading? | NewsBTC

Popular on-chain metrics analyst Willy Woo claims to have developed a Bitcoin price indicator that shows good opportunities to invest in the digital
...
He argues that mining creates selling pressure. Those operating mining rigs must sell Bitcoin periodically to cover the costs of running the high powered computer units required to guess block hashes. He writes:

“This produces bearish price pressure.”

Woo states that the “weakest” miners are forced to sell more coins to remain in business. However, if difficulty continues to increase, they are forced into capitulation.

Source of shared Link

---

My previous dlike posts :

• Venezuela Sets New Bitcoin Volume Record Thanks to 10,000,000% Inflation
• Only 4% of Americans see Bitcoin as long-term investment
• US Treasury Secretary Mnuchin Thinks Outlook for Bitcoin Is Bleak - CoinDesk
• The Future Of Banking: Is It All Bitcoin And Blockchain?
• Blockchain is finally becoming the next-gen database of choice | VentureBeat
• Bitcoin Flash Crash Proves Whales Are Messing With Us
• China Could Be About To Throw Its Weight Behind Bitcoin
• Bitcoin Falls as Facebook Warns Libra Might Never Launch
• A shocking number of food-delivery drivers admit to munching on customers’ orders - MarketWatch
• 85% of the world’s Bitcoin has been mined