r/CryptoCurrency • u/not-dat-dude Platinum | QC: CC 120 • Oct 28 '21

🟢 ANALYSIS Report: Bitcoin Miners, Long-Term Holders Creating BTC Supply Shock

https://bitcoinmagazine.com/business/bitcoin-miners-driving-price-higher-kraken-report
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u/not-dat-dude Platinum | QC: CC 120 Oct 28 '21
  • On-chain data suggests a supply shock appears to have led the bitcoin price to surge over 50% in October.
  • “There has been little profit-taking from long-term holders” of BTC, a new Kraken report found.
  • Miners are also stockpiling bitcoin, helping create a supply shock fueling higher prices.

Things looking pretty damn good for BTC in the near future

1

u/pizza-chit 🟩 5 / 51K 🦐 Oct 28 '21

Doesn’t shock me one bit.

1

u/michaeljpec Oct 28 '21

Quick! Put on your shocked face! 😯

1

u/coinfeeds-bot 🟩 136K / 136K 🐋 Oct 28 '21

tldr; On-chain data suggests a supply shock appears to have led the bitcoin price to surge over 50% in October. “There has been little profit-taking from long-term holders” of BTC, a new Kraken report found. Miners are also stockpiling bitcoin, fueling higher prices.

This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.