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Miners Signal That Bitcoin Bottom Could Be Near

From etftrends.com

Bitcoin is still the largest digital currency by market capitalization, but price are tumbling this year, dragging miners lower in the process. However, some crypto market observers believe that recent moves by bitcoin miners, including shifting holdings of the digital currency to exchanges, are signs of capitulation, potentially indicating that a bottom is near or forming in digital assets. If that call proves accurate, it could be constructive for exchange traded funds such as the VanEck Bitcoin Strategy ETF (XBTF). Miners could play a part in a near-term rebound for bitcoin. “As miner revenue declines and profits ... (full story)

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  • Category: Fundamental Analysis