What’s Mined is Mine

Chart of the Day

What’s mined is mine. The price of BTC has garnered a decent increase after establishing a strong foothold above the $53k support level. Meanwhile, miners are accumulating like never before in a bull cycle. The 2017 bull run saw massive dumping from miners, as they rushed to cash in on the rising price; the huge increase in miner position in the current bull run is unprecedented. Given that miners are considered the weaker hands under current market conditions, the stacking is no doubt a bullish signal.