Bitcoin and cryptocurrencies the market Ahead of the Weekend Continue to Swoop

 Bitcoin and cryptocurrencies returns: what is the reason and how to continue making profits, Bitcoin and cryptocurrencies fall in price and there is uncertainty in the market.




The cryptocurrency market fell again and Bitcoin , the most valuable digital asset in the ecosystem, fell 3% and is around $43,000.


Despite this fall, specialists say that the trend is bullish but could be reversed if Bitcoin falls below $42,000.


On the other hand, Ether , the token of the Ethereum smart contract network , fell 5% and is trading at $3,000.


Other cryptocurrencies Binance Coin, XRP, Cardano, Solana, Dogecoin, Polkadot and Shiba Inu were down between 7 and 13%.


In this context, investors feel neutral towards the volatility and changes in cryptocurrencies , that is, they think that the price of cryptocurrencies is "fair", according to the Fear and Greed index, which marks the general sentiment of the market. cryptographic.


BITCOIN MINERS SELL THEIR STORES: WHAT IT MEANS

According to an analysis by Glassnode, bitcoin miners - who are responsible for processing cryptocurrency transactions and leaving them on the blockchain - are selling their profits. What's this?


Miners are a type of hardware and machine that was created specifically to participate in the blockchain, the technological base of Bitcoin, and their task is to solve complex mathematical problems; and they earn a reward in return for the time and energy they spent solving that difficulty.


Precisely, the profit generated by mining each block of the Bitcoin chain is 6.25 bitcoins , that is, the miners have a profit of $270,850.


These cryptocurrency reserves are being sold by miners to cover energy costs and to pay for hardware equipment, since they are around $4,000 to $12,000.


This wave of sales puts pressure on the price of Bitcoin and, in the event that the market cannot absorb these sell orders, the price of the cryptocurrency will fall further.


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