Bitcoin's Price Could Get Challenged Further if This 1 Miner's Decision Becomes an Industry Trend
— Trend, Price, Bitfarms, Miners, Demand, Bitcoin, Digital, Mined, Supply, Bitcoins — 1 min read
Bitfarms sold 3,352 Bitcoins -- more than half of the Bitcoins the company was holding at the time. Bitcoin's price has increased drastically over the past few years, largely because of an imbalance in supply and demand. Bitcoin miners have had easy access to financing to pay the bills for this reason, as Bitcoin bulls, they've been holding the Bitcoins they've mined. In 2024, the rate of new Bitcoin will be cut in half -- there have been three of these halving events in the past. The price of Bitcoin has fallen approximately 70% from its all-time high, but even with this drop, it still has a nice gross profit margin. If miners become net sellers, the other swing could swing and prices could fall further. Source