With Bitcoin Price Slipping, Are Miner Selloffs To Blame? By Zack Voell It is true, miners are selling, but that is no reason to panic.
After some consistent months of seeing miners not selling off their mined coins, and displaying a bullish behaviour, some of the companies like Riot Blockchain, Marathon and Core Scientific told investors they have sold some coins and will likely sell some more.
But let's not get confused here. Self preservation is different from bearishness, and according to the author, what we have been experiencing lately from the Public Miners, is only them preparing and adjusting for rainy days, both paying off their operating expenses and protecting their balance sheets.
Most of them still have plans to continue expanding their operations as we have been reporting in the last weeks. |