Bitcoin Miners Drove Price Volatility In 2018 Bear Market ?
“In fresh analysis uploaded to social media on October 11, on-chain intelligence resource Token Analyst revealed miners selling coins directly influenced the Bitcoin price.
Specifically, large sell-offs coincided with BTC/USD dropping to $3100 late last year. Large chunks of coins moved to exchanges in June and August, which “drove the price down even further.”
‘We see miners taking advantage of volatility by sitting on their mined stash and then selling aroung (sic) large price swings,’ Token Analyst summarized.”