May 13, 2021

The number of bitcoins in the wallets of miners reaches a two-year high

Companies that mine the first cryptocurrency, a stash since September last year.More often than not, this behavior suggests that market participants are preparing for an increase in digital money quotes.

The number of bitcoins in miners' wallets has reached a two-year high, according to Glassnode.Now on the wallets of companies that mine the first cryptocurrency, contains more than 1.82 million BTC, the figure is growingDuring this time, it has increased by 2%, writesCoinDesk.

Investors and miners are set to grow, so they are trying to keep those bitcoins that are mined at the current level of complexity, explained Sigmapool CEO Jakhon Khabilov.He added that the market as a whole has positive sentiment in the medium and long term, although there are fears that there will beoccur local breakdowns down.

"After the new generation of equipment is fully and fullyIn China's factories, we expect a doubling of the hashrate to 200 EH/s in the spring of 2020.Perhaps this will happen at the end of this year or by the beginning of the next one," Khabilov predicted.

An increase in hash rate means that Bitcoin miningbecomes more complicated, then the offer will be reduced. If the demand grows or remains at the same level, this should lead to an increase in the price of the cryptocurrency. The expert stressed that an increase in the emission of stablecoins and the number of coins on exchanges also speaks of the future growth in the value of digital money.

“Investors are raising liquidity so that little by littlebuy bitcoin and other popular cryptocurrencies in the hope of their growth. This is a signal that they will rise in price in the medium term, ”the specialist explained.

The director of development of the EXMO exchange agreed with himMaria Stankevich. Miners do not sell BTC, most likely this indicates that they are waiting for the cryptocurrency price to rise, the expert said. According to her, companies are ready to bear the costs by saving coins in order to make money on the growth of their value later.

Earlier it became known that the number of walletsthe owners of which accumulate bitcoin reserves for a long time has increased to 500 thousand. A total of 2.6 million BTC are stored on these addresses, which is about 14% of the cryptocurrency emission.

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