Bitcoin Miners Begin Accumulating BTC, Sparks New Bullrun

Bitcoin Miners Begin Accumulating BTC
  • Bitcoin miners have begun to accumulate Bitcoin after weeks of selling. 
  • This is a clear indication that Bitcoin is heading towards its next bullrun. 
  • Crypto analysts are certain that Bitcoin will moon in the next few months.

In lieu of Bitcoin breaking its $48,000 resistance point and soaring up beyond $50,000, the crypto and Bitcoin community seems to be joyously back on track. One example of this new firepower is the fact that Bitcoin miners are back to accumulating Bitcoin. 

As we can see from the image attached to this tweet from Twitter user Tamil Crypto School, Bitcoin miners have begun to accumulate Bitcoin after a long period of selling the asset. From the chart, we can see that after weeks of selling, the miners’ net position has changed to green.

This is a fantastic sign for the crypto world. After months of crypto analysts and seasoned Bitcoin traders saying that Bitcoin will rally in Q4, it seems the time has finally come. Many have been saying that Bitcoin will hit $100,000 by the end of 2021. 

However, now with the $48,000 resistance point broken, the charts seem to be painting a different picture for Bitcoin’s next ATH. With the current change in the Bitcoin miners’ behavior, this is a clear sign that Bitcoin is entering its latest bullrun. 

According to long-time Bitcoin and crypto trader — Lark Davis, Bitcoin will surge massively by the end of this bullrun. Although, according to him, this bullrun will not end along with Q4. Unlike many analysts’ predictions so far, Lark believes this bullrun will likely run for 6 months. 

Therefore, he says this Bitcoin bullrun will end in Q1 of 2022. More so, he says that the gains will be much higher than $100,000. In particular, Lark predicts Bitcoin will set its next ATH somewhere between $180,000 to $200,000. To add on, he says that altcoins will also surge like never before.  

It seems this possibility could be very likely considering the turn of events and behavioral patterns of Bitcoin miners. At the time of writing, the price of Bitcoin is $52,625, according to CoinGecko. No doubt, a new Bitcoin bullrun certainly seems to be underway.  

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