BTC miners and holders have this is common, and no, it’s not worth celebrating

The cryptocurrency market, for what seems like an eternity, has been in a bear market, with prices consistently hitting new lows. Even Bitcoin [BTC], which controls a majority of the cryptocurrency market, has been affected, and it appears that long-term BTC holders are bearing the brunt. ________________________________________________________________________________________ Here’s AMBCrypto’s Price Prediction for Bitcoin (BTC) for 2022-23 […]

The price of BTC witnessed a steady drop, as evidenced by the chart. Price range analysis revealed a decline of almost 60% in value for the asset between April and September 2022. After peaking in the $45,000–$48,000 range in April, it dropped to the $18,000–$19,000 range where it stood at press time.With a current mark of -40.47% on the 365-day Market Value to Realized Value indicator, it was clear that long-term BTC holders were not profitable as of 11 October.

What these two entities, miners and hodlers, have in common was the risk of a sell off. In the face of a persistent decline, some long-term investors may decide to sell their holdings in order to minimize losses. Additionally, short-term traders may also sell out to limit their losses should the market continue to fall.Subscribe to get it daily in your inbox.

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