Mining Operators Fret As Bitcoin Looses Ground, What Lies Ahead For The Mining Community

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Tue, Jun 30, 2022 1:00 PM

Mining Operators Fret As Bitcoin Looses Ground, What Lies Ahead For The Mining Community

Bitcoin and other altcoins have suffered massive losses since May. But after a point, things started changing a bit. For example, bitcoin that fell to $17K on June 18 recovered to trade between $20K and $21K from June 19 to June 28 when it traded above $21K in the early hours of the day.

Unfortunately, the crypto could not sustain the recovery above $21K and lost more than $500 some hours later. The change in Bitcoin price resulted from mixed reactions in the market concerning regulators’ stance on crypto.

According to Gary Gensler, the SEC boss, regulators place Bitcoin and other tokens under commodities. Gensler mentioned that a spot Bitcoin ETF might not be the best for the financial market. So, the commission will not approve any application filed to launch a spot BTC ETF.

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The Securities and Exchange Commission boss made all these assertions when a media firm interviewed him. After the interview, many Bitcoin holders started selling off again, causing a fall in Bitcoin mutengo.

During the market crash and price plunge, many investors wondered whether to sell off or buy more to increase their portfolio. However, according to Glassnode data recently, some Bitcoin holders believe this market crash is the right time to buy more BTC. The firm disclosed the data over the weekend on Twitter, revealing that more than 100 whale addresses are buying more Bitcoin nguva ino.

Iyo data yakaratidza kuti mawhale aya anobata mari idzi pamutengo wekudzikisira nekuda kwekuvhunduka kuri kuitika pamusika. Zvakare, Glassnode yakacherekedza kuti maitiro aripo anogona kugara kwenguva refu. Chimwe chiratidzo chinoratidza kufarira kutenga zvakawanda pakati pemawhale chiyero cheBTC mune akati wandei wallet.

Uye kero dzaive kubva 10BTC kusvika 10,000BTC dzakawedzera mamwe mari mumavhiki maviri. Ipapo iwo wallet pamusoro pegumi,10,000BTC akakura kubva mumwedzi wechipiri we2022.

Iyo yechando yekristpto ye2022 yakakanganisawo vashandi vemigodhi zvakanyanya. Vari kuyedza kuita purofiti izvo zvanga zvisiri nyore nekuda kwemusika wemabheya.

Many miners have given up their equipment to reduce pressure. An analysis by strategists has shown that miners in the public sectors are responsible for 20% of miners’ sales between May & June. They also indicated that it might be the same for the private sector miners.

Asi zvino, vashandi vemumigodhi vanonetsekana kubhadhara zvikwereti zvemadhora mabhiriyoni mana zvakabatanidzwa nemichina yavo yemigodhi. Maererano nemushumo, vashandi vakawanda vemigodhi vakatadza kubhadhara chikwereti, asi vamwe vanoratidza kushaya simba.

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Chikonzero ndechekuti musika webheya wakanganisa kukosha kwemigodhi inoshandiswa sechibatiso. Nekuda kweizvozvo, chikwereti chinowedzera sezvo chibatiso chakakodzera ikozvino chisisaenderane nemari yechikwereti.

Original source: NhauBTC