2018 was very difficult for cryptocurrency investors. The price of virtually all digital assets has plummeted, while Bitcoin has fallen to a local minimum at the level of 3100 dollars. According to analysts of the Token Analyst, the rapid fall of the market was the miners. Experts say that the value of BTC significantly affected a large batch of coins that were sold multiple mining pools.
This morning Bitcoin trading at 8339 dollars. For the past day the coin fell to 0.44 percent. Scale one week its cost has increased by 2.4 percent.
Who benefits from cheap Bitcoin?
In publications Bitcoinist is it about certain dates when pools were drained a huge amount of bitcoins at the market price. Selling large lots of coins was a key reason the final dump of Bitcoin down to $ 3,100.
We came to the conclusion that miners benefit from the large price fluctuations of Bitcoin. They accumulate a decent amount of coins and sell them at one time.
Experts published a graph that clearly visible temporary periods of bulk sale of BTC. The red line shows the price movements of the cryptocurrency, and the diagram below you can see the volumes of sent coins from pools to exchanges. In this case, appear Antpool, Bitclubnetwork, viaBTC, Slushpool, BTC.TOP and F2pool.
The green rectangle highlights the time period during which the BTC.TOP began to pour huge amounts of coins. All this happened against the background of rising prices of Bitcoin. In other words, Poole raped the profit accumulated from the sale of BTC. The blue rectangle marked period of time in 2018, which preceded the final fall in the value of cryptocurrencies in a bear market. As you can see, during it in the diagram again there is a large volume of sales of bitcoins.
This Token Analyst report was published, another study conducted the chief analyst Decentral Park Elias Simos. Previously, he suggested that the movement of Bitcoin prices very much depend on the release of a new token Tether. Most of the cost of the home cryptocurrency is affected by the issue stablon in smaller quantities.
The conclusion is disappointing: small miners and traders heavily depend on large pools and other serious players. Draining a relatively large batch of coins is able to drop the market and mess up short-term plans of market participants, and to counter this will not work. The only solution in this situation — hudlite and wait for the restoration of the old rates.
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