Article Reading Time:
1 min.
Analysts of the CryptoQuant platform report that the sale of bitcoins by mining companies has led to a decrease in the market value of the first cryptocurrency.
Over the past 24 hours, miners simultaneously sold about 1,750 BTC from their wallets for approximately $47 million, which, according to CryptoQuant experts, led to a slight decrease in the value of the asset.
On the evening of Friday, May 19, the first cryptocurrency by capitalization lost about 2% of its market value and is trading at $26,800.
CryptoQuant analysts believe that the main reason miners withdraw assets from wallets is to sell. This trend is naturally reflected in the value of cryptocurrencies.
CryptoQuant says that with a high degree of probability, all 1,750 BTC sold went to the Binance cryptocurrency exchange.
Previously, the bestselling author of Rich Dad Poor Dad, Robert Kiyosaki, expressed
concerns about a possible large-scale recession and urged investors to invest in gold, silver and bitcoin.
Read this:
Bitcoin fell below $ 8000 amid global recession
Bitcoin rate fell below $ 48 thousand amid "cooling" of the market
Bitcoin rate fell below $ 40 thousand amid growing concerns in the market
CryptoQuant: Market overheating led Bitcoin to fall below $30,000
CryptoQuant: Miner capitulation could send BTC below $20,000
Bitcoin rate fell below $ 30 thousand while investors accumulate coins