CM: Bitcoin Miners Affect Price Less Now


In the report published by CoinMetrics, it was shown that Bitcoin miner activities do not have as much impact on the Bitcoin (BTC) price and network as before. According to the report, the decrease in the BTC supply owned by the miners after the Bitcoin halving and the decrease in the flow of money to the miners gradually reduced the impact of the miners on Bitcoin.

CoinMetrics, in its report measuring Bitcoin (BTC) miner behavior and activity, said that miner activities did not have as much of an impact on the Bitcoin price as before. In the report, which examined the activities and effects of accounts interacting with miner addresses, it was emphasized that Bitcoin miners still continue to play a key role on the network.


Miners collect 383 thousand BTC

In the report, it was stated that those who have been actively mining since the early days of mining activities have controlled large amounts of Bitcoin and managed to collect 383 thousand BTC. It was also said that there have been some jumps in the miners’ BTC supply. As an example, on August 16, 2012, the supply jump experienced when a whale with nearly 500 million BTC received an award from block 194,256.


Conitelegraph also shared that miners’ effects on liquidity decreased. The report revealed that measuring the transfer flow between addresses associated with block rewards has less impact on the Bitcoin liquidity of miners. In addition; Since miners ‘expenditures, gains and losses are evaluated on a dollar basis, looking at these measurements, it has been shown that miners’ activities on both dollar and Bitcoin basis are on the rise.

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CoinMetrics said that some metrics on miners show that the impact on the Bitcoin network is gradually waning, but it should not be overlooked that miners control a significant portion of the Bitcoin supply. However, it was highlighted that miners still have a say in activities on the network.


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