Bitcoin Recovery Gains Momentum as Miners Stop Selling

Bitcoin miners have finally stopped selling their Bitcoin (BTC).
Bitcoin accumulation has gone up as more investors are buying the dip.
The amount of wallets hodling more than 1 Bitcoin have gone up significantly.

Bitcoin Archive tweets exciting news. According to glassnode, Bitcoin miners have finally stopped selling their Bitcoin (BTC). As of now, they have instead begun accumulating BTC. It seems that bearish times may be over for Bitcoin.

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In response to the tweet, the crypto community seems to be collectively sighing in relief. In fact, many say that this is a good sign and expect the price of Bitcoin to continue its rise. Presently, the price of Bitcoin (BTC) is $20,357.

While many expected Bitcoin to dip closer to $17,000, most now believe the fall is over. However, it seems we will have to wait and see. If more continue to hold and buy Bitcoin, it is likely that a bull run may be imminent.

It seems many are beginning to see the eventual market recovery. For instance, crypto exchange Coinmena has just been granted a provisional licence to operate in the UAE. Meanwhile, luxury real estate broker Vietnam Homes has begun to accept Bitcoin.

Indeed, it seems the crypto space is gradually entering a bullish market. After all, it seems that more and more investors are buying the Bitcoin dip. To highlight, Documenting Bitcoin also tweeted a similar chart.

Specifically, the tweet explains that the number of addresses hodling more than 1 Bitcoin (BTC) has gone “parabolic”. To put it in numbers, it has gone up by +13,091 in the past week alone. In line with this tweet, many are responding by saying to keep an eye on altcoins as well. It is quite likely they will rally right behind Bitcoin.

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Lauren Cole

A focused and vigilant storyteller for all things blockchain and cryptocurrency. Besides consuming every piece of literature about the metaverse, she can often be found at industry convections looking for the latest scoop.