BTC miners' sales hit three-year high

According to The Crypto-Uint, bitcoin miners have started actively selling off their bitcoin reserves.

Volume IndexSales, developed by cryptoquant, exceeded the three-year high, and now shows a mark of 8.65.According to analysts, exceeding the mark of 2 already means the growth of sales of miners.

In Crypto'uant stated:

The BTC MPI index reached its highest level in three years.Obviously, miners sell BTC on the over-the-counter market or exchanges.

Ki-young-joo, THE CEO of Crypto-Uant, said:

Obviously, miners are selling a lot of BTC today. In the short term, this is a bad signal.

The last MPI record was set at the end of 2017.According to experts, sales can have a negative impact on the price of bitcoin in the short term. Nonetheless, CryptoQuant representatives believe that its price will rise significantly in the long term.

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