Stubbornness of bulls and dumping of miners: hot problems of the crypto market

Stubbornness of bulls and dumping of miners: hot problems of the crypto market Unreasonable enthusiasm of buyers always adds more negative than speculative sales. Two misconceptions  Bitcoin will save the world and miners are killing the rate  are equally dangerous for the market, as they both distort the real situation.As an argument against the first thesis, it suffices to point out the correlation of bitcoin with US technology stocks  this connection is strengthened and makes BTC too risky an asset.With the second delusion, everything is more complicated. Recall: mining is a regular business that requires real funding. It is quite logical that miners compensate for part of the costs by selling a certain amount of a part of the mined coins.There is no reason for serious panic: major coins such as BTC, ETH, and XRP are tightly integrated into various investment processes, and a serious infrastructure has been created for them so that they will not disappear from the market (too big to fall principle).There is no sharp increase in sales: MA(14) outflow from miners' wallets has reached a plateau and has not changed for several months, during which there were only two bursts of activity  April 1 and May 11. Miners are well aware that they are selling assets below the market rate, so this is not dumping, but the reasonable behaviour of people with huge capital.But BTC has been in a bearish state for more than 6 months and there are no strong fundamental factors to improve the situation. Analysts are considering scenarios in which quotes could go below $20,000, and the longer the price is kept from falling, the lower it will fall. Even the $10,000-12,000 zone may well become relevant.So we recommend using weak growth impulses only for profit-taking and opening new short positionsProfits to yall!