Bitcoin Miners Sell Less making BTC Scarce – See How to hit money this new month with your cryptocurrency

Bitcoin Miners Sell Less making BTC Scarce – Bitcoin, the number one cryptocurrency in the world has waxed tremendously in all nooks and crannies. Since the refusal of BTC miners to pump their coins into the crypto market, it has made Bitcoin to be scarce. This is indeed a time for investors to make it bigger this time.

What is Bitcoin mining?

Bitcoin mining involves the act of solving tasks that come in the form of algorithms in affirming a transaction and fixing it within a block on the blockchain.

By mining BTC, you can earn a BTC without having to pay money for such. BTC miners collect BTC as a reward for completing “blocks” of confirmed transactions which are added to the blockchain network.

Bitcoin miners are now hoarding bitcoins and this is for the benefits of retailers and investors.

This observation of Bitcoin becoming scarce is as a result of BTC miners not selling their crypos notwithstanding the price of BTC that increased beyond expectation.

Glassnode analytics also revealed that BTC miners currently hold more than 1.8 million BTC, recording the highest amount held by miners in over two years. Same as BTC investors, miners have decreased the sell-offs.

This macro stated above makes a solid case for Bitcoin bulls because BTC miners typically sell their BTCs to cover operational costs like electricity bills, and computing hardware. Even though the price of Bitcoin has gained more than 35% since the most recent halving, BTC miners now prefer to hold their BTCs for now. This means that BTC supply is tightening, as miners refuse to pump their coins into the crypto market.

Key concept you should note

BTC miners help in facilitating BTC transactions and providing security on the blockchain network. The importance of BTC miners can’t be underestimated as they perform these functions, by solving computational tasks which permit them to chain together blocks of transactions.

Trade carefully this period and transact when the market is favourable to you…

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