Bitcoin hashrate curve indicates the time of its sale by miners

Bitcoin miners may continue to sell off bitcoins for the rest of the year, but at a slower pace.
The dynamic average bitcoin hash rate crossed the same bitcoin hash rate over the past 60 days only three times this year. Remarkably, each time this meant an increase in miners selling off their mined bitcoins. The last time such a period began in mid-June and continued through August.
The top 9 bitcoin miners whose shares are traded on exchanges had their bitcoin holdings in corporate reserves fall from 125,171,000 BTC in Q2 to 102,407,000 BTC in Q3.
The decline continues into October, but at a slower pace, even though bitcoin mining sophistication and hash rates are near historic highs, and the bitcoin price has not yet reached trajectory. growth. Moreover, the trend of hash rate growth on a quarterly basis has been uninterrupted since the beginning of this year, but the growth rate is expected to increase in Q4, which is associated with the implementation of projects by several bitcoin miners to increase their equipment fleet.
Thus, on the one hand, the increase in the number of working mining machines creates high competition, on the other hand, the investment in these machines by large participants indicate that strategically they are confident in a strong rise in the price of bitcoin.
Shares of most public miners are down from the beginning of the year, as are the major Wall Street indices. However, they are expected to start rising later as the bitcoin price resumes rising.

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