Experts of the analytical platform Cryptoquant reported that the Hash Ribbons indicator, which assesses the state of the Bitcoin mining ecosystem, gave a signal about the surrender of miners. This will provoke the growth of the first cryptocurrency in the short term, analysts say.
Analysts emphasized that the indicator was mistaken only once, due to the influence of coronavirus pandemia on the cryptocurrency market. According to Cryptoquant, large bitcoin holders do not transfer coins to exchanges, which indicates the lack of intentions of immediate sale in the market.
Earlier, Luxor experts said that the decline in the total profit of miners of the first cryptocurrency and a decrease in the complexity of mining is due to an increase in electricity prices in the United States, caused by a decrease in temperature in the south of the country.
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Source: Cryptocurrency
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