December 8, 2023

Analyst: if everyone is talking about the surrender of bitcoin miners - open long

Active discussion of the possible capitulation of miners against the backdrop of a decline in the price of Bitcoin is a signal foropening long positions on a coin. This is the opinion of the analyst under the nickname light.


“Over the years of cryptocurrency trading, I learned one lesson: when people begin to raise the topic of the surrender of miners, remember to open a long position.”

Analyst DonAlt agrees with him, who previously stated that he would go long if the market shows a decline ahead of the May Halving:

href=&#187;;&gt;February 8, 2020


“Now that bullish halving claims have been replaced by &#171;miner capitulation&#187; “Time is getting long again.”

In early March, an analyst at Byzantine General called the level of $ 7,700 the average cost of miners to mine one bitcoin.


Thus, the current price of bitcoin at $ 5130 creates additional concerns about the bankruptcy of miners and the rapid decline in hashrate.

Earlier, CoinShares experts said that after the fall of Bitcoin, a third of mining capacities are operating at a loss.